Consolidate All Treasury Processes into One Modern, Easy-to-Access Platform

Empowering a New York Trust Company

A New York trust company, regulated by the New York State Department of Financial Services (NYSDFS), was looking to consolidate all of their treasury related processes into a single, easy-to-access platform. To add further complexity, they were subject to capital reserve requirements, cybersecurity requirements and banking compliance standards set forth by the NYSDFS and the New York Banking Law. They also are a fiduciary and Qualified Custodian.

Other challenges facing the company included a huge amount of manual tasks around cash management and bank account administration. They were looking to automate their current processes and provide a global solution as they grow into new markets.

In addition to consolidating processes onto a single platform, the company looked to automate reporting and eliminate human error, all through a treasury process that could scale with the client's rapid growth.

To resolve their concerns, the company partnered with FIS®. Through its Treasury and Risk Manager – Integrity Edition solution, FIS provides bank connectivity to the client's exotic banking relationships. They increased visibility and reduced risk due to accurate forecasting. Additionally, bank account management was able to consolidate mandates and signatories across the organization.

FIS Treasury and Risk Manager – Integrity Edition automates treasury operations. It simplifies and streamlines key department functions, including cash positioning and forecasting, bank account administration, foreign exchange risk management, investment, debt management and payments processing. It allows you to easily analyze data and take advantage of expanded analytical tools – from quick and easy standardized reporting to customizable dashboards and ad hoc reports.

The FIS “Secure by Design” infrastructure delivers the highest standards in security, from weekly 100% vulnerability scanning to real-time security infrastructure and network monitoring.