Loan Payment and Funding Transaction Flows

Client Need:  Following a recent system conversion, a regional bank was experiencing an unusually high number of unidentified and reconciling items resulting in abnormally high staffing requirements to resolve the open items.  The client wanted to reveal unidentified system or general ledger mapping issues, determine best practices surrounding the settlement and reconciling functions, and maximize the functionality of the new system.

Solution:  BenchMark extensively studied and documented the back office areas performing the reconcilements and settlements.  Recommendations were made to the client to improve the efficiency and effectiveness of their processes surrounding payment flows, new loans, and the reconcilement and settlement processes.  Recommendations included process changes, system enhancements and utilization of auto-reconcilement software.

Results:  With implementation of the recommendations, the client was able to return to a “business as usual” environment with efficient and effective settlement and reconciling processes.