Success Story

Pan – African Bank – Card Operations Audit

Challenge

A Pan-African bank in Central and West Africa had an objective of assuming leadership position in credit card market. However, consolidation of various initiatives started was never done resulting into multiple technology platforms, lack of direction to the users, increased customer complaints, lack of timely vendor support, weak process controls, manual operations, duplication of work; The bank therefore decided to undertake third party review of card operations.

Solution

A risk assessment approach was utilized to determine the appropriate steps to be taken to analyze the card operations. We based our audit on PCI DSS and CoBiT audit standard. Back end as well as front end processes (planning to monitoring) were assessed for controls. Technology review, customer complaints handling mechanism, accounting and reconciliations, organizational support, Information Security aspects were reviewed.

Result

As a result, the bank got inputs on process improvements, improvised controls, customer complaints monitoring mechanisms, technology integrations and information security which will go a long way in providing leadership to the bank in the card market and thus increase its revenue potentials with reduced technology risk.