News release
BANKING & BUSINESS OPERATIONS PERSPECTIVE
Banking Coverage: During the past 12 months, the priority for Earthport has been to consolidate key strategic banking relationships within the existing network, with a view to better leveraging the partnership opportunities they present. In particular, the expansion in coverage and service via the SEB Group has enabled Earthport to grow considerably in key European markets and, with other long-standing banking partners set to adopt a similar model, we see further International expansion following on in the near future.
Thus the focus continues on growing the portfolio. Initially, growth is targeted in the lucrative AsiaPac sector, where our partnership with IBM is adding real leverage and value. Furthermore, a recent restructuring of our partnership with ANZ Australia is now affording exciting opportunities to develop key Asian markets…including Indonesia, The Philippines, and Thailand.
Payment Processing: Earthport has experienced a significant growth in client volume during FY 2007 and this growth continues to drive our need to constantly review the processes that we employ to handle bulk payment & collection demand. In working closely with our colleagues in the IT Development team, Earthport’s Business Operations team has been able to consistently demonstrate greater levels of genuine Straight Through Processing (STP). This increased level of automation has provided measurable levels of performance improvements and has contributed to a further reduction in exception ratios.
Summary: The ongoing program of performance enhancements outlined above has been Earthport’s major focus during the past 12 months and the benefits are now flowing through. Indeed, the cumulative benefits of this program have contributed to a significant evolution taking place within Earthport’s Banking & Business Operations unit:
- A consistent and sustainable higher level of transactional throughput.
- Higher levels of STP automation, leading to more cost effective service delivery.
- Further reductions in exception ratios.
- Greater geographic coverage.
Here at Earthport, as a result of the above program of improvements, we now feel justified in claiming to have the ability to develop and sustain true ‘blue-chip relationships’ with both our client base and with our banking partners.
...Indeed, we feel that this evolution in our service and our ability to expand our relationships now places tangible, sustainable growth at our fingertips!