Case Studies > Dollar Tracking System for HSBC

Client Profile
HSBC brands itself as "the world's local bank". Headquartered in London, it is one of the largest banking and financial services organisations in the world.

Background
In its cash centres, HSBC act as an agent for the U.S. Federal Reserve for the stockholding and distribution of U.S. dollars.

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Situation		Solution
In order to comply with stringent audit and reporting requests from the Federal Reserve, HSBC were faced with an onerous administrative task in recording all shipment data and then in retrieving, collating and responding to queries.		7 Layer Solutions designed a system for capturing shipment data using bar-coding and portable scanners, which is uploaded to a database on the bank's pc network.
Pain		Gain
The recording of all shipment data into Excel spreadsheets was an administrative overhead for the bank.		Shipment data is now captured as a biproduct of the normal operation.
Since all data had to be keyed, there were often transcription or transposition errors.		Bar code scanning is quick and it avoids the keying errors common to the previous process.
Responding to queries from the bank meant tedious searching through Excel spreadsheets.		Standard reports and queries enable the bank to respond quickly and easily to the information requests from the Federal Reserve with negligible effort.