CHALLENGE
A bank wanted to offer customers a service that combined all their accounts onto a
single statement. The various accounts, however, were maintained by independent systems
with different closing dates for separate divisions. Transactions affecting multiple accounts
such as a transfer of funds from savings to checking might be processed on separate dates
occurring in different statement periods for each account. The systems ran on different
hardware platforms and the organizational structure of the bank precluded redevelopment of
all of the functionality into a single system.
SERVICE
An MCS consultant was assigned to develop a process for each of the bank divisions to
transmit daily posted transactions to a single processor that correlated the data by customer
transaction instead of account transaction and prepared statements based upon its own
closing cycle.
RESULTS
Successful roll-out of product that effectively consolidated all of the relationships of
each customer with the bank. With one exception, the impact on each of the individual product
divisions was the execution of a daily transaction extract in a standardized format that was
transmitted to the consolidation processor. Development of the consolidation and statement
process was complete in less than three months.
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