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Reduce Operational Risk and Decrease Costs: Optimize STP with Exceptions & Investigations Automation

Reduce Operational Risk and Decrease Costs: Optimize STP with Exceptions & Investigations Automation

Barclays Capital Reduces Cost per Trade by 35% while Mitigating Operational Risks. Exceptions are the curse of the financial services industry. They represent risk, cost and processing inefficiencies. On a daily basis within an average payments operations department, approximately 1-2% of all payments are subject to some form of inquiry or investigation. While many institutions are achieving impressive STP rates in the area of payments processing, it is clear that the cost of handling each inquiry produces a multiplier effect on the total cost of a payment.

"We believe the SWIFT Net Exceptions and Investigations solution will help the entire banking community to reduce operational risk and costs and will significantly improve overall client satisfaction." —Daniel Cotti, head of global transaction products, ABN AMRO

The market is starting to understand the impact of exceptions and investigations on their operations, more so now than in the past, as most banks have to track the cost of errant transactions as part of their regulatory reporting requirements. At the same time, excellence in customer service is fast becoming a key differentiator between service providers. Correspondent banks and corporations are choosing their service providers based on their value-added services and the levels to which they satisfy the growing requirement for data transparency and real-time information. Quick and efficient resolution of problems is an influencing factor in attaining and retaining customers. This translates directly to the requirement for efficient processing of transactions.

Download this complimentary eBook to learn how you can reduce operational risk and decrease costs by optimizing STP with Exceptions & Investigations Automation. You will also learn how Barclays Capital reduced risk and the cost per trade by as much as 35% when optimizing STP with Exceptions & Investigations Automation.

Topics:

  • Reducing Operational Risk and Decreasing Costs
  • How to Deal with Increasing Volumes and Costs
  • New Standards including SWIFT Net E&I XML Messages
  • New Processes and Tools for Routing, Message and Case Creation, Research Automation

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25 Most Powerful Women in Banking

Commentary

There's Enough Blame For All. Now Get On With It.

Ross Perot’s argument that judgment and discretion should prevail in business over ambition and greed resonated with an industry whose suffering through the S&L crisis forced it to do some soul-searching.

BTN Video: Save the Planet!

Citigroup Leads With the Carbon Principles

Citigroup's Bruce Schlein discusses The Carbon Principles, and how the institution hopes to lead its peers down a greener path.

Video: The Green Revolution

How Banks Can Start Going Green

IDC Research's Vernon Turner picks the low-hanging fruit in going green, from green people, the data center, and the big switch off.

 

Back Issues

Cover image

Sovereign Sway

Money has no color, no gender, no race, no ethnicity, no nationality. Merrill Lynch’s John Thain and Citigroup’s Vikram Pandit know this, and have embraced the stabilizing influence of sovereign wealth funds in a time of crisis. Citi, Merrill Lynch, Barclays, Bear Stearns, Morgan Stanley, UBS, Credit Suisse and Canadian Imperial Bank of Commerce are among the Western financials that solicited an astounding $100 billion in SWF investments in the last few years. “Our view of sovereign wealth funds is as strategic partners,” says Gregory J. Fleming, president and COO of Merrill Lynch.

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The Politics of Lending

It was merely a moment in the heat of the presidential primary campaign, but one that spoke volumes about the potential role of the subprime mortgage mess on this year's elections.

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Risk Without Reward

The meltdown of 2007 exposed the industry’s blind spots for risk, particularly as it ricocheted between the disparate and competing interests among lenders, servicers, traders and investors. The result was that many firms took on risk that far outweighed the rewards. Finding a path forward from the ashes of this debacle will require stronger leadership overseeing risk, a culture more respectful of interdependent risks and new technologies that can measure them across the enterprise.

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All-Star Banking Team 2008

Success is relative in times like these, and good performance can be illusory. After years of steady increases, industry profits in the third quarter were down a whopping 25 percent versus a year earlier, according to the Federal Deposit Insurance Corp. Industry loan-loss provisions, which take a direct bite out of earnings, soared to $16.6 billion in the quarter—more than double the $7.5 billion set aside a year earlier, and the highest since 1987. Signs are that fourth-quarter figures will be even higher.

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A Tough Act 2 Follow

Rachel Thebault couldn't have been more nervous on that day in 2003 when she walked into her boss's office at Bank of America, ready to announce the conclusion she had taken a long time-years, really-to admit: She was no longer interested in banking. And she quit. Thebault's story differs greatly from that of Allan Woods, who was CIO of Mellon when he left to become an emergency medical technician. Both walked away from six-figure paychecks. Both couldn't be happier.