Unlocking Hidden Value in Banking and Payments Data
Author : Brian Weakliam, Founder & CEO
It amazes me how people can overlook the obvious.
Treasury and Finance teams spend lots of time and energy implementing new systems to become more efficient. Treasury Management Systems, Straight Through Processing, Open Banking API’s and Card Payments Reporting Systems.
And they fail to see the opportunity in front of them.
Once finished with, Banking and payments data sits redundant, once the month end or quarter end is complete or the transactions are processed.
They actually contain the key to unlocking millions of lost profit.
Banking and payments data has mines of really valuable information. How does your money come in, what do you do with the money when you have it and how do you deploy the funds; use for working capital, pay wages, pay suppliers or invest surpluses. This is all represented in your banking and payments data.
If that data can be extracted and used it can be deployed for many purposes:
- Identify and measure risk
- Manage liquidity
- Measure and benchmark bank fees and charges
- Uncover hidden FX margins
- Uncover hidden Interest margins
- Benchmark profitability of banking relationships
- Assess compliance with Treasury Policy
- Forecast cash and liquidity
- Manage payment fees
- Find overcharges by banks and payment companies
- Demonstrate Treasury Team Profit Contribution
- Identify fraud
Most of the data can be easily extracted from banking and payments portals. Bankhawk works with CFO’s and Treasurers to help them to capitalize on hidden opportunities in the data.
Bankhawk’s pioneering services have been used by leading companies including AIG, Aon, Axa, Allianz, EY, Intercontinental Hotel Group, KPMG and PwC generating savings of tens of millions.
Using its analytics and benchmarking platform, Bankhawk helps Treasurers to create value within weeks with little or no impact on the Treasury and Finance team resources.
Banks and payment companies have been thriving on the complexity of banking and payments systems and generating enormous profits.
Now corporations can turn the tables and take their money back. Treasurers can demonstrate their added value to their company without have to seek any budget.
CFO’s are amazed at the results that can be generated by companies with so little effort. Bankhawk’s results based fee model ensures that fees are only paid out of savings generated and are a fraction of the result.
I will be attending the AFP FP&A Forum this week in Austin, Texas and will be happy to explain to you how easily the service works. For those who don’t get the opportunity to meet up, I will be happy to follow up after the event.
This marks Bankhawk's inaugural participation in an event in Texas, and I anticipate significant interest. If we do not have the chance to connect, please feel free to reach out, and I will follow up with you post-conference.
Brian Weakliam,
Cellphone +353872460055
brian.weakliam@bankhawk.com