Bank of Us Unleashes Rich Analytical Capabilities with GTreasury for Treasury Management

The Challenge

“Bank of us” managed its treasury operations for several years with a hybrid solution of retail banking applications, Excel spreadsheets and paper-based processes. This approach suited
“Bank of us” in the short term, but as data volumes increased, it created challenges for both operational staff and senior executives.

“Bank of us” lacked central oversight over its treasury portfolio because data was distributed across disparate systems. Within each system, the accuracy of investment, budget and decision records was dependent on staff remembering to manually update them.

Furthermore, “Bank of us” had a limited ability to use treasury data to inform strategic decision making or generate insightful reports. Its systems lacked necessary analytical and predictive capabilities. External providers were engaged for some analytical functions, such as ALM reporting. However, with poor visibility of the analysis undertaken, “Bank of us” staff often lacked confidence in the reports provided. At the same time, manual processes for collating financial data were time consuming and inefficient. Some reports took weeks to complete.

As a conservative customer-owned institution, “Bank of us” had a strong strategic focus on minimizing its exposure to risk. It needed an integrated treasury management system that not only kept accurate and centralized records of investment decisions, but also offered insight into the overall performance of the treasury portfolio.

The Solution

GTreasury offers a broad suite of treasury modules for Financial Services and after careful deliberation, “Bank of us” chose to implement three GTreasury modules: Treasury Management, Asset Liability Management and Integrated Market Data.

For the team at “Bank of us”, GTreasury’s easy-to-use software was a key selling point.

“At a presentation, we saw that GTreasury was much more intuitive and user-friendly than other products we’d seen.” – Honni Pitt, Financial Controller.

Additionally, GTreasury’s flexibility, which allows multiple features to be integrated based on a client’s specific requirements, proved highly appealing to “Bank of us”.

The Result

GTreasury has transformed Bank of us’s treasury management and ALM operations over the past three years. It has created powerful efficiency gains and enhanced its ability to draw insights from data.

Streamlined reporting: With previous systems, staff typically spent four days collating data for ALM reporting (managed by an external provider) and waited a week or longer to receive the final report. With GTreasury, “Bank of us” staff run ALM reports in-house. The entire process, including obtaining data, entering data and generating reports, takes just one day.

Data visibility: With a centralized and intelligent treasury system, GTreasury has provided “Bank of us” with full visibility of its treasury portfolio. Importantly, this capability extends beyond static records by allowing treasury staff to calculate, analyze, evaluate and forecast key metrics. Powerful data insights: GTreasury has provided “Bank of us” new abilities to build scenarios for modelling investment and budget decisions. Staff can assess and explain impacts in new ways.

Process automation: GTreasury has automated time consuming processes including manual data entry, sending confirmations and reporting. “Bank of us” staff members have more time and energy to focus on high value work, rather than expending effort on manual tasks.

Expanded treasury functions: GTreasury’s data capabilities have enabled “Bank of us” to broaden the scope of its treasury operations. They now apply GTreasury to handle all investments and wholesale bookings, and to streamline repurchase agreements with the Reserve Bank of Australia.