Bank lacks IT capability, gains intraday visibility in five weeks
A UK Legal Entity of a Global Bank sought insight into its use of intraday liquidity across a range of major currency accounts provided by a variety of agent banks.
Objectives
As a relatively small organisation in the UK, this bank had limited IT capabilities It also lacked knowledge of how to implement a solution and deliver the required outcomes.
Reviewing the marketplace to look for a solution, the bank was attracted to the capabilities offered by Realiti. None of the other options could provide real-time intraday insight, at best they could create after-the-event views.
Planixs was able to support the bank throughout the process and tailored its normal approach to provide extensive support in banking operations best practices.
The solution
This bank chose to implement the Realiti Cash Control capability across all of its accounts, which was implemented within five weeks.
Measurable benefits
The bank is now able to track its intraday usage in real time and make business decisions based on that insight. This has proved particularly useful in understanding how to manage its activities in the absence of easily available credit lines.
The bank can carefully tailor the pre-funding needed to ensure its payment activity progresses smoothly throughout the day and is alerted to any risks that arise. Funding is used more efficiently than before and a range of control risks have been eliminated, leading to improved performance in the area of audit and regulations.
Now the Cash Control capability is embedded, the bank is considering expanding into additional Realiti modules and extending the use of Realiti across the wider group, including its head office in Africa.
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