TreasuryXpress, the global leader in on-demand treasury management software today announced that DNB Group, Norway's largest financial services group and one of the largest in the Nordic region in terms of market capitalization, has selected the firm’s treasury management solution (TMS), to power their online treasury and cash management offerings to corporate clients.
This partnership introduces a new paradigm in bank services for the corporate treasury department:
- Anders Grevstad, Executive VP Category and Transaction Banking at DNB Group said, “Our clients trust us to deliver solutions that make their banking and treasury management easier. TreasuryXpress provides the engine that allows us to do this.”
- TreasuryXpress’s Chief Operating Officer, Tom Leitch commented: “This offering is a huge opportunity for the market. As consumer and B2B technology experiences continue to converge, banks and solution providers need to step up their game in terms of their solutions for corporate treasurers. There has been a long-standing need in the treasury market for technology that removes the bureaucracy and friction from automation. We have achieved this for corporates through our on-demand TMS model.”
The solution will streamline cash forecasting, reconciliation, positioning, and debt management for corporate clients. Users will now be able to simply log on to their online banking portal and access easy-to-use, functionally-rich, treasury management and reporting tools.
Anders Grevstad, Executive VP Category and Transaction Banking at DNB Group. “We chose TreasuryXpress because of the quality of their solution as well as their flexibility. By partnering with this leading technology innovator, we will continue to add valuable treasury services to our clients now and in the future.”
Delivering a market-ready white-labelled solution requires considerable market- and technology expertise. DNB and TreasuryXpress have worked together in order to create a solution that is compliant with Nordic standards. According to Leitch, there was great emphasis on processing performance during the development process, resulting in a highly secure, highly scalable solution that can easily be implemented by the customers and reliably deployed “en masse.”
“Corporate banking clients want reliable, easy-to-use, online treasury tools to simplify their manual daily tasks and streamline their operations,” said Tom Leitch, chief operating officer at TreasuryXpress. “As an innovator and leader in the financial services landscape, DNB has made this experience a reality for their clients.”
TreasuryXpress provides one of the fastest and easiest to implement solutions in the TMS market, as this figure shows:
Source & Copyright©2019 - Deloitte
Powered by sustainable, digital technology, TreasuryXpress’ on-demand treasury management software model is characterized by a frequent and controlled Agile development methodology which provides automatic monthly updating:
Source & Copyright©2019 - Deloitte
Leitch believes that “DNB’s vision of providing a fully integrated treasury management product to broadly offer to their clients is revolutionary.” He continued, “TreasuryXpress is extremely pleased to be partnering with DNB to make the digital transformation of treasury more attainable and realistic for treasury teams than ever before. This partnership validates the on-demand model that we have pioneered in the industry.”
CTMfile take: For DNB this is a dream come true with all their corporate clients having leading TMS functionality at their fingertips. They will no longer have to worry about the tools they use. This really is a new paradigm and proof of the viability of TreasuryXpress’s vision for corporate treasury.
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