Focus on Cash payments
The October 2015 test focused on Eurogiro
Cash payments. These are handled in all
regions of the world and the test spanned
participants from small postal organisations in
the Baltic area to some of the world’s leading
banks. This year, the test sparked rapid
identification and resolution of a quality issue
relating to manual handling on the receiving
party. A formatting error was discovered in a
sending IT system and was documented by
several receiving parties and the sender was
able to fix the error within days after receiving
the documentation. Without testing, such a
situation may have continued undetected for
a long time.
In February 2016, Eurogiro will undertake
the next test, this time focusing on credit
transfers.
3
October 2015 Quality Test
– Cash payments
•
98% STR (& stable over 5 years)
•
98% timely notifications to beneficiaries
•
Detailed explanations of non-STR
•
Participants represent 99% of all sent
cash payments
How testing can
reduce costs
One Eurogiro member was made aware that its messaging system
distributed data incorrectly in the cash payment messages and reacted
promptly to fix the system. This will immediately reduce the handling costs
at the receivers and will add to an excellent cooperation between partners.
Elements contributing to the success of the October Cash test were:
•
Two members taking the trouble to meticulously document how
wrongly placed data in incoming messages causes manual inter-
vention
•
Prompt sharing of the data with sending member
•
The sending member to pick up the information and fix the errors
immediately
• The orchestration of the detective work to pick out, aggregate and
share the same type of relevant data
It takes a partnership of people dedicated to resolve issues and share
information to do this. Eurogiro has a longstanding tradition of working in
this way.
Page 7
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8 Eurogiro News
Eurogiro News is a magazine for the promotion
of information, ideas and knowledge within the
Eurogiro community and is published by:
Eurogiro A/S
Telegade 1, 1.
DK – 2630 Taastrup
Denmark
Editor-in-Chief: Michel Stuijt
Production & subscription manager:
Annelise Lysdal
e-mail:
Final editing: March 2016
ISSN: 1727-7442
Eurogiro is a global payments community. We
connect posts, banks and other payment handlers
and facilitate a member-driven cooperation to create
business opportunities for our members.
Our network carries payment transfers of all kinds.
Eurogiro accepts no legal responsibility for
consequences that may arise from use of this
publication.
No part of this publication may be reproduced without
the written consent of Eurogiro.
Activity Calendar 2016
Meet us at these events:
4-7 April 2016
Money 20/20 Europe - Copenhagen
10-12 May 2016
Eurogiro Member’ Meeting, Prague
