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Paperless Treasury: A Budget Trifecta Winner

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Paperless Treasury Onboarding

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Byurcan
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Byurcan,
User Rank: Author
9/23/2014 | 10:07:50 AM
Re: Compliance
Yes, treasuty services can be a very paper-intensive aspect of banking, so I too would expect tos ee this trend continue.
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
9/22/2014 | 4:53:08 PM
Re: Compliance
Yes in terms of compliance and risk, any function that is still mainly paper-based is becoming a problem just due to the man hours that have to be spent tracking down documents when an audit occurs. So I expect that trend to grow in just about every area of banking. But considering the importance of many of these treasury client relationships, that customer experience part is just as important.
Larry_Buettner
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Larry_Buettner,
User Rank: Apprentice
9/22/2014 | 12:41:42 PM
Re: Compliance
The treasury services on-boarding process has definitely lagged the consumer experience. The first objective of a treasury services digital on-boarding initiative is to create an experience that allows for digital capture of diverse product requirements and then provide complete visibility to the remainder of the on-boarding process. Simply knowing the status of the implementation and being able electronically track and prove all "I"s are dotted and the "t"s are crossed is a major step in the right direction. Allowing that visibility and flexibility on mobile devices really takes it to the next level.
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
9/18/2014 | 2:36:11 PM
Compliance
Thanks for the great article Larry. I'm finding that there's a lot of focus on customer onboarding across different lines of business driven by the cost of KYC compliance. But while there's been a lot of innovation on consumer and small business onboarding, treasury seems to be lagging behind. The integration of mobile technology for a paperless workflow seems like it will bring that kind of innovation over to this very important customer segment.
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