Business Brains

London-based bank slashes paper consumption with workflow software

London-based bank slashes paper consumption with workflow software

Posting in Sustainability

The Bank of China in London drastically cut its paper consumption by switching to an automated process for handling SWIFT interbank transactions. Total: about 50 pounds of paper per day.

Employee efficiency initiatives, such as workflow engineering, can often have a sustainability side benefit. Such was apparently the case at the Bank of China in London, which just cut its paper consumption by 95 percent by switching to an automated process for handling SWIFT interbank transactions. That's about 50 pounds of paper per day for this particularly operation.

The automation was made possible through Informix software from IBM, which was deployed by one of its business partners, Centric iSolutions. The specific application being used by the Bank of China is CLiP iMessageHUB. Employees in the bank can sign in securely based on their role and manage transactions appropriate to their job function.

Said Stephen Hinds, Bank of China's chief operating officer in London: "The improved access to information has been key in helping us meet compliance regulations and reduce costs. The availability of information across all our departments has led to further benefits such as reducing our paper consumption by 95 percent and allowed us to make more timely and accurate decision."

Even though paper savings wasn't the initial goal, the total saved each year through the new systems is roughly 18,000 pounds.

Share this

Heather Clancy

Section Editor

Heather Clancy has written for United Press International, ZDNet, Entrepreneur, Fortune Small Business, the International Herald Tribune and the New York Times. She holds a degree from McGill University. She is based in New Jersey. Follow her on Twitter. Disclosure