Electronic Funds Transfer Benchmarking

Written by Michael McAlary

Services Area: Performance Improvement

Industry Sector: Financial Services - Payments Systems

Situation/Responsibility

Chairmont was appointed to perform a electronic transaction and card processing benchmarking exercise which consisted of:

  • A consumer satisfaction survey.
  • A wider market survey to assess competitors' solutions.
  • A review and analysis of our client's performance against its Service Level Agreement (SLA).

Risk/Challenges

The key challenges were to:

  • Obtain competitor market information while the client did not want to disclose its identity.
  • Understand the business operations and identify the Key Performance Indicators (KPIs).
  • Design a two-tired questionnaire to capture key issues and the consistency of participants' views.

Achievements

The main achievements were as follows:

  • Through the consumer satisfaction survey and the market survey, identified key issues impacting on the delivery of services.
  • Established new SLA benchmarks and revised existing ones.