Bank communication

Optimising your bank communication can lead to cost savings, improve working capital and help you manage your cash better and keep up with compliance.

Today, a centralised link to banking partners is the preferred model of communication, achievable through diverse but complementary techniques. Expected benefits from optimal banking communication stand as follows:

Your challenges

The absence of an optimal banking communication platform leads to the following key challenges:

• limited or no visibility of global cash position and needs
• lack of automation: reliance on manual processing for reporting, payments and reconciliation
• limited straight-through processing (STP) due to diversity of bank interfaces
• maintenance of a variety of legacy systems and bank connections increasing total cost of ownership (TCO)
• management of a variety of security standards
• low standardisation preventing you from harmonising your transactions with your banking partners
• meeting regulatory and internal control requirements

How we can help you

Benefiting from better tools and technology

PwC treasury practitioners assist you in building a communication platform that supports your present and future treasury needs. We work independently from application vendors and service providers – so our recommendations are always neutral and based on the customer.

As our client, you will work with our core team of former treasurers and systems, tax, banking and communication specialists, who will help you to:  

• determine a scalable connectivity solution that meets your business agenda and vision
• develop your business case to get internal sponsorship and the necessary budgets
• explain the technical aspects of your connectivity options and system offerings
• select the service bureau that best fits your needs (which requires you to look beyond only technical aspects)
• choose the bank communication software that integrates your treasury management systems and ERPs
• ensure efficient contracting that delivers according to plan
• roll out your communication platform at a low cost and within deadlines

After working with us, you can expect to see:

• significant reduction in bank communication costs
• streamlining of your bank communication channels and increased security
• solid foundations for future enhancement projects
• increased independence in dealing with banks
• easier compliance with regulatory requirements
• added value in other treasury areas, such as working capital management, cash management and risk management