A leading, nationwide, diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions.

Technology is transforming the banking industry and today’s financial institutions face mounting competition, changing client demands, and the need for strict control and risk management in a highly dynamic market. At the same time, technology has given rise to powerful business intelligence tools. Read more to learn how Assure developed tools to help a national bank leverage its customer data for insights that lead them to smarter management practices and better business decisions.

Engagement  Objectives

•  Build a comprehensive suite of B2B tools that optimizes working capital and strengthens trading partner relationships
•  A Centralized database that interfaces with salesforce.com, Dunn&Bradstreet, Visa and Master Card
•  Identify the customers paying by checks and migrate them to electronic payments.
•  Perform validation routines for transactions with suppliers using a purchasing card or ACH
•  Implement architecture components to support future evolutions

Solution

• Built a secure warehouse and integrated data from internal databases and external sources such as Salesforce.com, Dunn & Bradstreet, Visa and Master card

• Designed a solution with enhanced Dashboard and Analytical capabilities that seamlessly incorporates complicated workflows.

• Provided In-memory analytical capabilities

• Assumed on-going application support and enhancements

Results

• Measurable improvement with cash management and forecasting

• Automated payments by eliminating paper checks within the of Purchase to Pay and Order to cash cycles

• Automatically identify customers that need to migrate from checks to more efficient forms of payment

• Ability to automate the sales process and maintain the repository of all payees

• Captures powerful insight about customers spend activities

Curious to Explore more?