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Investec BOP solution

Published • 21 January 2016

We worked with Investec to reduce the complexity of their Balance of Payments process.

The Challenge

Synthesis was asked to reduce Investec’s protracted Balance of Payments (BOP) process. When they approached us, customers had to fill in a PDF, print it out, and fax it to the bank. Unless the scan was a good copy, the barcode on the form often had to be amended manually.

The Solution

We provided an online form with all the appropriate banking and Reserve Bank validation laws, which allowed customers to capture any missing information and validate that the captured information was correct. The advantage of collecting correct information at the source meant that the problem of barcodes was bypassed and that all information was validated.

The Result

Synthesis delivered this solution in just two weeks, leveraging off their existing product and then refining the tool over the next three months. This has streamlined the process, allowing Investec to collect far more information in a shorter space of time. Subsequently we have now been commissioned to develop a second generation of the form, which will streamline the process further. To learn more contact us.