1 Customer
- U.S. Top 20 Retail/ Commercial Bank
2 Business Situation
- Many high value fraudulent checks hitting the accounts every day
- Bank’s customers required all their items updated at the start of the business day
- Unable to meet turn times and deadlines due to frequent volume fluctuations
3 Solutioning
- Mismatch between truncated checks and items presented were transferred to a digital “interrogation” queue
- Account Reconciliation specialists researched suspected items and decided whether to pay or reject
4 Execution
- Dedicated team to perform reconciliation in Payee Positive Pay, Positive Pay and Stops; cross-trained others to manage volume spikes
- Created early morning shift with 3 hours turn time to meet start of the day deadline
5 Value Delivered
Significant saving and increased customer satisfaction
- $2.8 Million worth of fraudulent items detected in 3 months
- Improved customer satisfaction by Processing 100% volumes by start of the day
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