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Industry roundup: 15 February

GTreasury adds Treasury Strategies' bank fee analysis tool to platform 

GTreasury, a treasury and risk management platform provider, has announced a partnership with Treasury Strategies (a division of Novantas, Inc.) that fully integrates Treasury Strategies’ NDepth bank fee analysis (BFA) capabilities into GTreasury’s system for digital treasury. With NDepth, GTreasury says its customers now have access to a solution providing full transparency, visibility, benchmarking, and control over their banking activities fees - all available from within the GTreasury ecosystem.

By combining technology with learning algorithms, NDepth automates and simplifies the process of reviewing account analysis statements. These statements are processed by NDepth each month, in whatever format they exist, and data are mapped into standard or custom product families to make tracking and bank-to-bank comparisons simple and clear. Benchmarks show fee levels at each bank and for each product family in relation to the market. Dashboards show trendline and summary information for balances, rates, services, and spend.

The benefits of NDepth integrated into the GTreasury platform include cost savings, as NDepth provides fee transparency so that treasurers can have a better understanding of exactly what they are paying for. Automatic alerts flag any unexpected changes to a business’ negotiated pricing. Treasurers are also in a stronger position to budget for their spending and improve bank relationships, backed by expertly managed, normalised data for how they are paying fees across banks and how that spending compares with peers with similar volume levels. On-demand reports show customised price benchmarks and make it easy to identify outlier fees.

Improved yields can be achieved as treasurers make more informed and data-driven cash deployment decisions by leveraging net effective rates. NDepth also eliminates manual processes by receiving files directly from banks, ingesting data, performing file mapping, and presenting data visualisations ready for treasurer analysis. NDepth supports EDI-822, TWIST/BSB, and PDF account analysis statements, allowing GTreasury customers with global business to have BFA data available for all of their operations. All files are fully encrypted both in transit and at rest, and all benchmarking data is aggregated and anonymised.


Fides partners with Instimatch Global to extends corporate treasury ecosystem

Fides Treasury Services has announced a partnership with money markets digital platform Instimatch Global. The partnership will enable Fides to offer access to money market liquidity on Instimatch’s platform directly through the Fides Multibanking Suite portal.

Instimatch Global connects borrowers with lenders digitally within the huge unsecured money markets, in a way designed to provide more efficient workflow, better pricing and the ability to diversify counterparty risk. 

The Fides partner network offers a wide range of solutions, from ERP and TMS vendors to software and consultancy services. The Instimatch partnership allows Fides to offer the first of a number of new types of complementary partner solutions to its clients, meeting the diverse range of needs for corporate treasury and finance professionals. As part of Fides’ digital open ecosystem expansion strategy, it says it will integrate more complementary partner solutions within the next few months, allowing corporate treasurers to further leverage the Fides Multibanking Suite.


Banking Circle identifies increased costs for EUR payments from UK as a result of Brexit

Banking Circle has identified an issue affecting some financial institutions handling cross-border transactions from the UK to the EU. It seems Brexit has caused a number of EU banks to increase their fees for receipt of SEPA local payments in EUR from GB IBANs.

Banking Circle head of Sales, Nischa Us, believes that this is unhelpful for the financial institutions supporting businesses trying to continue to trade cross-border: “We have had a number of our clients come to us since the start of the new year to ask for assistance with handling EUR payments from GB IBANs. Because the core ethos of Banking Circle is to make international payments feel like local payments, we can provide IBANs which cover both the UK and European market. And this means payments providers can offer their UK merchants & clients certainty of cost.

Banking Circle says it can cut out the ‘Brexit-premium’ because it offers a solution that enables transparent, local payments and collections across borders, without the need for a physical presence or a relationship with a correspondent bank in that region. And that means there is no need for financial institutions’ customers to accept increased fees because of Brexit. 

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