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Steven Gan - Signifying The Need for Speed Banking
1. BankTechAsia 2014
Signifying the Need for Speed Banking
Disclaimer:
The information included in the following presentation are intended for discussion and informational purposes only; they do not constitute an endorsement or an approval by HSBC Bank of any of the products, services or opinions of the corporation or organization or individual. HSBC Bank bears no responsibility for the accuracy, legality or content of the external parties. Readers are advised to conduct their own independent research before making any decision.
Steven Gan
Head,Direct Banking
HSBC Bank
2. Agenda
•Internet Trends and Digital Landscape
•The New Consumer Journey Insights
•Digital Banking -Driving Omni-channels
•Ensuring advanced core banking system in place
•New technologies that are raising the bar for banks
•Processing big data at high speed
•Managing Remote Deposit Capture (RDC) and its risks
19. Mobile Banking
•Built once, deploy many
•Support globally
•Agile Development
•Eliminate TAT of reaching customers
•Same theme & standardize look & feel
•Customer feels “home”
•Ease of navigation
•Ease of Use
•Self Service Help
•Cost savings on contact centre
25. Remote Deposit Capture (RDC)
•Allows a user to scan checks and transmit the scanned images to a bank for posting and clearing
•Digital deposit is transmitted (over an encrypted internet connection) to the RDC bank or service provider who then accepts the deposit, posts the deposit to the business account and assigns availability based upon the availability schedule
•Benefits:
Convenience
Better deposit availability
Cost saving as the volume of paper associated with physically mailing or depositing checks
Alternate channels for SSTs
26. Remote Deposit Capture (RDC) –Risks (1)
•Risk management, governance and oversight should be based on the size and complexity of the Bank & relative scale and impact of RDC activities
•Bank has two primary responsibilities:
Complete Due diligence & underwriting on customer -Consider customer’s business activities, geographic location and customer base
Monitor for high levels of unauthorized returns or suspicious or unusual patterns of activity
•Ensure the Bank maintains appropriate policies, procedures and controls relative to risk
•Train the RDC customer
•RDC Risk Assessment should include:
Risks –Strategic, Credit, Compliance, Operational, Transaction, Legal and Reputation Risks
Security and confidentiality risks as well as vulnerability and business continuity risks
Risk tolerance levels
27. Remote Deposit Capture (RDC) –Risks (2)
•Create customer parameters which include:
A list of acceptable industries
Standardized underwriting criteria (i.e., credit history, financial statements, ownership structure, types of business, google, etc.)
Set maximums for large dollar items
•Obtain expected account activity such as the anticipated number, dollar volume and type of transaction
•Monitor the returns and any changes in the volume or dollar amounts of the transactions
•Visit the high-risk RDC customers and obtain enhanced due diligence
•Contracts should include:
Requirements to retain, protect, and ultimately destroy original documents
Requirements for properly securing equipment to prevent inappropriate use and effective equipment security controls (i.e., passwords, dual control access)
Event of counterfeit documents or double deposits