Optimizing treasury management sales and onboarding

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In today’s transaction-driven banking environment, providing an exceptional treasury management experience and service are key factors in creating value for customers. In order to optimize treasury’s value, banks must embrace automation in their sales and onboarding processes to reduce the amount of time between when a new treasury customer says “yes” to the first time a customer receives an account analysis statement.

Treasury management is one of the most complex operations in any institution, yet most technical solutions that are used to manage the process are limited to single aspects of the treasury process. For example, regular maintenance and routine changes are typically very labor intensive in most systems or processes, and as a result, are ineffective at creating a seamless end-to-end process.

This often means that, even if the bank has an existing treasury system, they continue to rely on manual, paper-based and disparate processes requiring multiple approval layers. The result? Extended cycle times, decreased revenue and customers who are looking for alternative methods to achieve their complex commercial transaction requirements. By taking a look at each role in the treasury process, one can easily understand why it presents operational challenges. These challenges can include:

  • Limited transparency into the process
  • Multiple forms and reliance on paper
  • Ineffective pricing model
  • Limited communication between business channels
  • Extended cycle times
  • Duplicative efforts

Because of the number and complexity of treasury products and services, a cumbersome delivery model is a gateway to lost opportunities and underperformance.

In order to fully optimize the treasury process and capture critical opportunities for non-credit, fee-based income business and more complete customer relationship management, it is clear banks should embrace an integrated, end-to-end automated treasury strategy that connects directly to their lending and deposit process.

A typical, fully implemented onboarding process offers the following benefits:

  • Forms created on-site or delivered electronically
  • Fully configurable proforma
  • Increased efficiency through electronic signatures
  • Transparency provided through online tools
  • Automated dynamic order entry
  • Workflow tools to streamline implementation

Moving forward, banks must think of treasury origination and onboarding from a digital and fully integrated perspective, where technology is easily managed by the institution and each stakeholder is seamlessly connected in the process, resulting in success and value for both the bank and the customer.

Our latest guide outlines treasury’s value, common challenges faced during the treasury process and how the right combination of onboarding strategy and technology can lead to measurable straight-through processing results and accelerate time to revenue.

To learn more about elevating the customer experience and driving revenue through treasury management, download our guide here.

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