Background
r10 were asked to undertake an independent feasibility study and Proof of Concept (PoC). Our client required an independent view to establish whether the utilisation of an industry leading peer-to-peer platform managing payments could improve their processes.
Next step recommendations were requested as part of the project, and an independent view provided on the alignment of any proposed changes against the overall digital transformation strategy.
What was the challenge?
The transfer of funds between market participants followed a cumbersome process, due to the historical procedures and the lack of innovative technology solutions.
How did r10 help?
r10 ran a project from initial mobilisation through to successful delivery of a PoC within a tight three-month timeframe.
A business case was put together to support future potential investment, alongside validation of the technology against business process requirements and overall client due diligence needs. The current processes were analysed to identify pain points, followed by the build of lean and efficient “to be” processes. The proposed processes were tested through the development and running of a PoC.
What was the outcome?
The study concluded that implementing the payment technology and new business processes, could result in substantial efficiency gains and improved customer service. Our client could also gain benefits from reallocating resources to other value-add activities and reduced human error.
r10’s recommendations were taken forward into an r10 run broader project continuing to look at the potential implementation of the technology and improved processes across the client’s wider business.