Case Study: Standard Bank achieves faster cross-border payments with Celonis Process Intelligence

Standard Bank boosts cross-border payments to over 90% STP with Celonis

Standard Bank, the largest bank in Africa, faced challenges modernizing its Corporate and Investment Banking (CIB) Operations due to legacy analog processes and a lack of end-to-end process visibility. This hindered optimization and created inefficiencies, such as long cross-border payment processing times. To compete digitally, the bank partnered with Celonis, utilizing its Process Intelligence platform via consultancy ProcessLab, to gain insights and drive transformation.

Using Celonis, Standard Bank created a digital twin of its cross-border payment process, identifying key friction points. This enabled targeted optimizations that reduced payment processing times to a handful of hours and increased the straight-through processing (STP) rate to over 90%. The success led to a broader CIB Operations transformation, with Celonis at the center of an intelligent processing model, fostering real-time visibility, AI adoption, and widespread efficiency gains across the bank.

Standard Bank