New research by global transaction specialist Fundtech says that financial institutions that focus their energies on improving customer experience elements of their treasury management systems are well positioned to capture the market.
TMSs have gained in popularity due to a need for efficiency and automation, says the company, with many organisations seeking out a solution from a single bank provider for simplicity. Benefits of pinning down an effective system include higher revenues, improved efficiency and stronger customer relationships, they say.
For banks that can create something fast and easy to use that offers straight-through processing, this presents an excellent opportunity.
“Today’s corporate treasuries need technology that addresses the challenges that they face and they are turning to their banks for help,” said Sanjay Dalmia, EVP Global Cash Management at Fundtech. “Forward-looking banks are providing sophisticated, flexible, and highly automated treasury management solutions that offer a consistent, seamless, and intuitive customer experience.”
“By ensuring that their solutions apply the best practices in customer experience, banks will put themselves in the forefront of the new generation of corporate treasury management solutions,” added Michael Jackson, who head up FundTech’s Cash Management for the Americas. “Banks that take this step will position themselves as the leaders of the industry for years to come, and will reap the benefits of higher revenues, margins, and market share.”
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