Lockbox Transition

Key Areas

Lockbox Transition

Change Transformation

Strategic Staffing

Background

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One of the oldest financial services institutions in America, holding over $1 trillion in assets, approached Heitmeyer
Consulting to support conversion of their treasury, cash management, and item processing functions from FISERV to BNYM.
The client had already hired a major global consulting firm and was unsure of the quality of their results.

They enlisted Heitmeyer to review the firms reporting. Impressed by the depth of the review, the client hired on Heitmeyer to continue to execute the remainder of the project.

diagram visualizing the flow between Sender, Sender FI, FedNow Service, Receiver FI, and Receiver.

Solution

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Heitmeyer Consulting retains a network of over 100,000 qualified consultants in the financial services industry, allowing us to rapidly deploy a team of Subject Matter Experts, Program Managers, and Business Analysts, to build a roadmap for
Wholesale Lockbox processing.

By the end of the project, the client had placed over 60 consultants, with some being contract-to-hire in order to retain continuity.

Major achievements by our team include:

-Conversion of Wholesale Lockbox processing from FISERV to BNYMellon
-Conversion of Item Processing (Day 1 and Day 2) from FISERV to Wausau
-Transition from existing platform of IBS to FIS ACBS platform utilizing a team of Commercial Loan Experts

Outcome

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Heitmeyer Consulting strategically deployed qualified teams that completed the project on time, grew past the original scope of work, all at a greatly reduced cost compared to quotes from major consulting firms.

Since the project’s completion, the client has retained Heitmeyer to continue work on new initiatives to adjust in an

ever-changing market, requiring the expertise of a firm that specializes in the financial services industry.

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