For CIMB Bank, these services form the backbone of both retail and corporate banking, enabling customers to transfer funds seamlessly, perform bill payments, and conduct domestic and international transactions.
Operational resilience in this context requires that the bank ensures uninterrupted availability of these services, even in the face of disruptions ranging from technical failures to external shocks.
By mapping the underlying processes that support payment and fund transfer services, CIMB Bank can identify vulnerabilities, monitor risks, and implement strategies to maintain continuous service delivery.
This chapter aims to provide readers with a detailed understanding of the sub-processes (Sub-CBS) that collectively deliver CBS-2: Payment & Fund Transfer Services at CIMB Bank.
The purpose is to pre-emptively equip the reader with knowledge of how these critical services operate, the dependencies involved, and the controls in place to mitigate operational risks.
By reviewing this chapter, the reader will gain insight into the rationale behind each sub-process, learn how these processes align with regulatory and operational resilience requirements, and understand the interconnections that ensure seamless fund movement across internal and external systems.
Ultimately, this knowledge enables operational managers, risk officers, and business continuity planners to make informed decisions to strengthen resilience and maintain service reliability.
Table P1: Detailed Processes for CBS-2
|
Sub‑CBS Code |
Name of Sub‑CBS |
Description of Sub‑CBS |
|
CBS‑2.1 |
Customer Initiated Transfers |
Handles the initiation and validation of customer funds transfer requests via various channels (e.g., CIMB Clicks, CIMB OCTO, BizChannel). Includes authentication, account verification, and initiation of the transfer order. This process ensures that transactions are securely initiated by authorised users. (CIMB Malaysia) |
|
CBS‑2.2 |
Internal Processing & Routing |
Core engine that processes transfer instructions — including routing, queuing, and switching messages to internal ledgers or external payment networks (e.g., Interbank GIRO (IBG), DuitNow, RENTAS). Ensures payments are formatted correctly and reach the right clearing/settlement systems. (Wikipedia) |
|
CBS‑2.3 |
Clearing & Settlement Interface |
Interfaces with external clearing and settlement systems (e.g. PayNet networks like DuitNow, JomPAY, IBG, RTGS) to clear and settle the funds transfer. Manages settlement instructions, reconciliation, and confirmation of settlement success or failure. (Wikipedia) |
|
CBS‑2.4 |
Foreign & Cross‑Border Payments |
Manages international remittances and payments (e.g., Telegraphic Transfers, SpeedSend) including FX conversion, compliance checks (AML/CTF), routing through international networks, and settlement in the beneficiary countries. (cimbpreferred.com.my) |
|
CBS‑2.5 |
Payment & Transfer Compliance Controls |
Applies regulatory and internal controls such as Purpose of Payment classification (BNM requirement for transfers above thresholds), AML/CFT screening, fraud checks, and sanctions screening to ensure transactions comply with internal policy and external regulations. |
|
CBS‑2.6 |
Notification & Status Reporting |
Provides transaction notifications (e.g., SMS/app alerts), confirmation messages, and reporting to customers and internal systems. This ensures users are informed of the transaction status (initiated, completed, failed) and that records are reconciled across systems. |
|
CBS‑2.7 |
Exception Handling & Remediation |
Detects exceptions (e.g., failed transfers, routing errors, network timeouts) and triggers remediation workflows, including reversals, retries, customer communication, and escalations to support teams to resolve issues. Aligned with resilience requirements to handle disruptions. |
|
CBS‑2.8 |
Settlement & Reconciliation Accounting |
Ensures end‑of‑day reconciliations between internal accounts and external clearing systems, updating ledger entries, balancing cash positions, and resolving discrepancies to maintain accurate financial records. |
|
CBS‑2.9 |
Service & Channel Monitoring |
Real‑time monitoring of payment and transfer channels (online banking, mobile, APIs) for performance, capacity, and outage detection. Supports operational resilience through early detection & response to service degradation. P |
|
CBS‑2.10 |
Customer Support & Dispute Resolution |
Provides support for customer queries, disputes, and inquiries related to payments and transfers. Includes helpdesk functions, investigation of transaction discrepancies, and customer remediation. |
Key Notes on Operational Resilience Alignment
Understanding the detailed sub-processes of Payment & Fund Transfer Services is essential for CIMB Bank to safeguard its operational integrity.
Each Sub-CBS, from customer-initiated transfers to reconciliation and exception handling, plays a pivotal role in ensuring that funds are accurately and securely moved between accounts, both domestically and internationally.
By documenting these processes, the bank not only enhances transparency and accountability but also establishes a foundation for risk mitigation, compliance, and continuous improvement.
This structured approach empowers CIMB Bank to maintain operational resilience, respond effectively to disruptions, and uphold customer trust in one of its most critical service areas.
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Operational Resilience in Practice: The CIMB Bank Approach |
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| eBook 3: Starting Your OR Implementation |
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| CBS-2 Payment & Fund Transfer Services | |||||
| CBS-2 DP | CBS-2 MD | CBS-2 MPR | CBS-2 ITo | CBS-2 SuPS | CBS-2 ST |
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For organisations looking to accelerate their journey, BCM Institute’s training and certification programs, including the OR-5000 Operational Resilience Expert Implementer course, provide in-depth insights and practical toolkits for effectively embedding this model.
Gain Competency: For organisations looking to accelerate their journey, BCM Institute’s training and certification programs, including the OR-5000 Operational Resilience Expert Implementer course, provide in-depth insights and practical toolkits for effectively embedding this model.
To learn more about the course and schedule, click the buttons below for the [OR-3] OR-300 Operational Resilience Implementer course and the [OR-5] OR-5000 Operational Resilience Expert Implementer course.
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If you have any questions, click to contact us. |
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