Banking Journeys
This team operates in a highly hectic and intensive environment, as it deals with payroll processing payment tasks for thousands of clients' employees while also processing other payments or suppliers and many other stakeholders involved in their journeys.
However, to simplify matters, we have come up with two basic journeys: one for new business development and one for current business operations. The former involves opening new bank accounts for the new organisational structure, while the latter maps out all touchpoints that include inbound and outbound payments, such as clients' payroll, internal employees' payroll, banking partners and other suppliers.
1
Banking supports new business initiatives by ensuring that new bank accounts are set and maintained with sufficient funds. This ensures that new investments streams can flow seamlessly and support the new structure. This journey includes front end interactions with directors, supporting them in their bank account application process, as well as back end touchpoints for funding new accounts or closing them.
2
This journey includes interactions between Banking and UK payroll processing teams to execute payments for net wages and payroll liabilities. In addition, the journey has touchpoints with banking brokers for international payments and suppliers. On the back end, Banking monitors all transactions on a daily basis to ensure sufficient balances and provide accurate balance information for the management teams.