Identifying $5m in cash centre savings for a global bank
A leading international bank run the largest cash processing operation in a south east Asian economy, and also act as a major note issuer.
The bank handles billions in cash annually. They also have the added challenge of a seasonally-driven increase of up to 40% of their workload during the year.
A research-led approachVaultex immersed experts in the bank’s cash processing and CIT operations.
A new modelWe built a model that mapped all the processes, timings and costs.
TOMBy applying global cash management best practice, Vaultex created a target operating model that met the bank’s objectives while also cutting considerable costs from the operation.
The right solutionsWe recommended which technology to invest in and how to select the suppliers.
Significant savings: Vaultex identified savings of $5m USD p.a. and many of Vaultex’s recommendations were implemented in the cash centre.
Implementation support: Vaultex hosted follow-up sessions to talk the client through the implementation steps required to realise the saving.