bankingciooutlook

Seven Common Treasury Management Services in Banks and Financial Institutions

By: Banking CIO Outlook | Sunday, November 22, 2020

Treasury management services help companies comply with regional and global regulations as they now have a platform to standardize processes and systems.

FREMONT, CA: Treasury management services provide a system that can take over a treasurer's work. Teams and departments can perform daily operations as there is cash in hand. The services guide through the macro-financial deployment of a business and its related strategies.

Treasury management services optimize productivity by automating repetitive manual tasks, removing bottlenecks in the organizational workflow. This elimination of manual process reduces human error and helps banks keep businesses relevant as cash flow is actively monitored.

Here are seven common treasury management services in banks and financial institutions:

Integrated Payables

Integrates process automation for routine and repetitive tasks and optimize excess funds.

Integrated Receivables

Utilizes working capital efficiency and optimizes cash workflow.

Risk Management

Secures cash flow from breaches and fraud.

Liquidity Services

Obtain an escrow manager and sweep accounts.

Global Treasury Services

Account services handle payables and receivables in foreign currencies.

Automated Clearing House (ACH)

Process automation for same-day money transfers.

Account Sweep Services

Enhances cash balances with investment sweeps.

Other standard services also include account reconciliation, payroll services, and merchant services. Treasury management services are essential for optimized cash flow, and it enhances user activity transparency. It can also help companies comply with regional and global regulations as they now have a platform to standardize processes and systems.

Check out: Top Fintech Solution Companies

Weekly Brief

Read Also