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Removing the shackles: how branch accounting stifles efficiency and innovation in retail banking

By John Schlesinger 10 Sep 2012

In June 2012, a simple error caused the batch run of branch accounting at a major UK high street bank to fail, and rendered the bank unable to service customers properly for over six weeks.

This debacle, repeated in March 2013, has shown that having almost every process go through a single set of interrelated overnight batch jobs is an unacceptably large risk for any bank.

In this paper, John Schlesinger, Temenos’ Chief Enterprise Architect, examines how efficiency and innovation in banking is being stifled by the dead hand of the overnight branch accounting run, one of the big culprits for the lingering ‘productivity gap’ observed in the banking industry.

To read more, download the full article.

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