Tangible Cost Savings
Ulster Bank has quantified the cost savings as
significant delivered by the implementation of
the branch solution throughout the Republic and
Northern Ireland. This can be attributed primarily
to a reduction in transaction processing costs
and daily cash surplus and shortage along with
increased revenue from fees and commission.
The cost reductions were achieved by the ability
to implement a new process for paper truncation
at the teller window that was unique to the bank’s
needs, as well as cash handling and balancing
rules to ensure better cash management. The bank
also wanted to increase revenue from fees and
commissions. This was achieved by integrating
once-off commission charging and account-based
fee capture rules into every transaction.
Continuing Return on Investment
Our relationship with the bank did not end with
the successful branch rollout, rather it flourished
as the branch network was supported by the ability
to rapidly deliver change in a robust and secure
environment. The branch environment is consistently
under pressure to respond to legislative and market
needs in a timely and cost-effective manner. netvoyager
has partnered the bank through a myriad of incremental
operational improvements as well as strategic
and legislative change.
The prime legislative example over the last few
years is Economic Monetary Union. The netvoyager
framework has facilitated a smooth transition
for branches in the Republic while ensuring that
those in Northern Ireland were unaffected. The
flexible Business Logic Server allowed the same
business rules to support both regions without
system upgrade through all stages of transition.
Of course, the bank is now perfectly positioned
to reap the benefits of this expertise if or when
EMU becomes an issue for Northern Ireland and
the UK.
VoyagerExpression
has also allowed the bank to respond to group-wide
strategic initiatives such as the implementation
of Account Management Centres. These centralised
processing units required many of the same transactions
as the branches but with different business rules.
The powerful configuration ability of the framework
allows the same software to run in both AMC and
branches thus supporting business change and minimising
operational costs.
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