Developing an international multi-bank operating model
Background
A commercial bank outsourced the cash processing at three of its cash centres – located in Riyadh, Jeddah and Al Khobar – to Cash Solutions Company Limited (CSCL).
CSCL were tasked with operating these sites as multi-bank cash centres (MBCCs) – providing cash management services to the branches and ATMs of multiple commercial banks.
Vaultex was appointed by CSCL as an expert cash management consultant to design a new, efficient Target Operating Model to prepare the sites for multi-bank operations.
Approach
Current State Assessment Report
We undertook site visits to all three operations and interviewed key stakeholders from CSCL and the Bank to gauge the operational challenges.Target Operating Model (TOM)
Our team designed a high-level TOM detailing how the sites would operate as MBCCs - defining the specific requirements for people, processes, technology and security.Policies & Procedures
We created detailed operational policies & procedures to support the management and running of the cash centres.Audit
Vaultex specialists completed a review of all three sites to ensure the new operations conformed to the TOM.
Customer Benefits
A new multi-bank model: An industry leading operating model.
Optimisation: Optimised processes, balancing efficiency with control and accuracy.
New Business: New revenue stream by offering commercial cash processing services to additional banks.
