Increasing market share in the crowded and competitive international banking space begins with improving payments efficiency and focusing on raising cost effectiveness and productivity across internal payments operations. mBank S.A. is one of Poland’s leading financial firms and processes over 1.4 million cross-border outgoing transactions annually, including SCT and TARGET2. The bank offers their corporate and retail customers streamlined access over mobile and online channels and ranks among one of the fastest growing financial brands in Poland. mBank S.A. wanted to optimize the efficiency of their cross-border payments experience to expand market share and simplify payments operations. The bank integrated LexisNexis® Bankers Almanac® Global Payments File Plus into their core banking system to help automate cross-border payments processing and connect the business to more accurate and more up-to-date global banking data.
Our case study details how Bankers Almanac Global Payments File Plus enables mBank S.A. to raise end-to-end payments efficiency for their corporate and retail banking customers and significantly improve straight-through processing rates. Bankers Almanac Global Payments File Plus seamlessly connects mBank S.A.’s. core banking system to daily updates of global payment routing information, incorporating data elements such as National Clearing Codes, BICs, SSIs and Clearing System Mechanism connectivity so they can automatically validate and enrich payments information in near real time. Automating cross-border payments helps mBank S.A. realize substantial productivity gains and cost savings across their payments operations and frees up internal resources to focus on more strategic initiatives.
The case study highlights the top benefits Bankers Almanac Global Payments File Plus delivers to mBank S.A.:
Integrating Bankers Almanac Global Payments File Plus improves mBank S.A. payments efficiency at the enterprise level and enables the bank to scale faster to expand market share. Automating cross-border payments delivers productivity gains and cost savings while also enabling mBank S.A. to make their international base of retail and corporate customers a top priority. Find out the competitive advantages automated payments solutions can deliver for your business. Read the case study to learn more.