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Global Financial Group Cuts Out Paper-Based Processes With Implementation of New eIBC System

A Case Study

Client Overview

Since 1864, our client has served as a pillar in the banking sector to promote responsible banking and relationship banking. Our client’s banking offering includes a wide range of commercial, retail banking, and wealth management solutions to meet the financial needs of all our customers. With a global network of 1,100 offices in over 40 countries, our client serves as one of the world’s leading financial groups. 

The Challenge

Our client needed to provide an auditable and guaranteed delivery method of inter-branch clearing (IBC) monetary transactions between cost centers and into their general ledger accounts. However, they were held back due to outdated, manual paper-based processes, which required paper copies to be distributed through expensive couriers. As a high-value transaction, the IBC process was singled out as it needed to be automated rather than scanned to improve operational efficiency.

Our client chose Pyramid Solutions who not only listened and understood their pain points, but also went above and beyond what our client was looking for by delivering expected business outcomes with a solution to solve their problems, rather than just a technology demonstration. 

 

Our Innovative Solution

Pyramid Solutions knew that the right approach to fix our client’s problem was to implement a digital version of the Inter-Branch Clearing process, known as eIBC — a new application that replaces paper, debit, and credit tickets in the branches and across the bank. Pyramid Solutions proceeded to set up eIBC for the client and integrate it within their case manager environment and electronic form builder, IBM Case Manager and IBM Forms. 

eIBC leverages IBM Forms as the user experience for both the debit and credit portions and IBM Case Manager for balancing the transactions, routing to the appropriate costs centers, escalating as needed based on SLAs, and submitting these transactions electronically to the general ledger. eIBC eliminates the delays and errors inherent with paper-based processes, and ensures end-to-end traceability and compliance.

With the new eIBC system in place, our client is very pleased with the results as they have reduced delays drastically and have saved over $800k on shipping per year! 

Technology Used:

  • EIBM Case Manager
  • EIBM Forms

    Our Exceptional Results

    Less reliance on paper

    Increased traceability and compliance

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    Reduction of delays

    Elimination of over $800k in shipping annually

    We helped a global financial group cut manual paper processes to reduce delays and increase compliance by setting up a new eIBC. 

    Imagine what we can do for you. 

    If you’re not happy with your internal business processes due to having manual bottlenecks or legacy technology, reach out to us and we’ll give you a free assessment of how one of our solutions can make your business more efficient than ever!