StevenRED OCEAN CFO

About Red Ocean
  • UK Offshore Drilling Company
  • REVENUE: $3B
  • EMPLOYEES: 2,600
  • HEADQUARTERS: UK
  • OTHER OFFICES: United States and Europe
Red Ocean's Challenges
  • Efficiently navigating the complexities of global payroll remittance
FIS Solutions
  • Open Payment Framework (OPF)
  • Real-Time Reconciliation
  • ACH

StevenRED OCEAN CFO

Learn More
X About Red Ocean
  • UK Offshore Drilling Company
  • REVENUE: $3B
  • EMPLOYEES: 2,600
  • HEADQUARTERS: UK
  • OTHER OFFICES: United States and Europe
Red Ocean's Challenges
  • Efficiently navigating the complexities of global payroll remittance
FIS Solutions
  • Open Payment Framework (OPF)
  • Real-Time Reconciliation
  • ACH

Steven pays the company's staff in the UK, the U.S., and several locations within Europe

Steven's banking system then goes through ACH, cross-border and immediate payments, and clearing.

Steven's bank then processes the cash and enters liquidity monitoring for cash management optimization.

Steven's bank accounts goes through reconciliation, cash pooling, reviews, and ultimately posts accounts.

Steven can now view his updated account overview in his business' internet banking.

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Corporate Treasury System
Steven opens his business internet banking portal to do a range of different payroll payments. Learn More >
Bank Payment Hub
When Steven makes a payment, he issues payment instructions for a national bulk payroll payment to their UK headquarters, as well as an international set of payments to staff offices in the U.S. and France. FIS’ Open Payment Framework (OPF) receives and processes the different payment types. Learn More >
Real-Time Payments
OPF validates and routes real-time payments to the bank via eBanking channels. Learn More >
SEPA Credit Transfer
OPF validates and routes cross-border payments to the receiving bank’s customer via eBanking channels at the very end. Learn More >
ACH Payments
OPF validates and routes ACH payments to the bank via eBanking channels or an API. Learn More >
Settlement and Posting
OPF receives the debit notification from the bank for all payment types. Learn More >
Operational Control Cash Management
Operational Control Reconciliation
Payment transactions are automatically reconciled against the debit notification, and cash positions are updated in the treasury management solution. Learn More >
Posting in Core Banking
The new postings are recorded in the corporate general ledger. Learn More >
Business Internet Banking
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