Challenge
High processing costs and frequent manual handling limited how far retail operations could scale and were eroding margins.
// Work 13
Cutting retail banking processing costs by 90 percent through straight-through processing
// Introduction
A bank's retail operations relied on extensive manual intervention, which kept processing costs high. Ewan and the team delivered straight-through processing across its retail operations.
What we did
The team redesigned the end-to-end processing model for retail operations and removed the manual touchpoints, so transactions could pass through from start to finish without intervention.
Outcome
Processing costs fell by 90 percent and profit contribution rose by 25 percent. Retail operations could now grow without a matching rise in cost.
*Some case studies describe work delivered before forming Beacon58.