Keystart Loans is a Western Australian home loan provider that offers low deposit loans and has helped over 100,000 homeowners. Keystart’s unique offering enables Western Australians to access affordable housing through a lower deposit scheme, no lenders mortgage insurance, no ongoing monthly account fees and education.
For more than a decade, Keystart had fully outsourced its treasury management function to an external service provider. However, with significant improvements in the staff capabilities and cost effectiveness of treasury management technologies, Keystart recognised an opportunity to achieve additional efficiencies by bringing treasury management in-house.
As Keystart is exclusively focused on providing affordable home loans, its treasury products comprise an array of various debt and investment products. It needed a treasury management tool that could support its current level of business and reporting requirements and the ability to scale quickly to support future business needs, including an increase in treasury complexity.
Keystart reviewed a range of treasury management solutions and, following a tender process, determined that GTreasury was best suited to its needs. It appreciated that GTreasury was:
- Fit for purpose
- Had both the ability to support a small organisation and capacity to scale for future business growth
- Excellent customer service
GTreasury had a number of specific features that were appealing to Keystart and outperformed competitors. These included workflows with built-in automation, simple and effective reporting, the ability to drill down into data and model different scenarios, and a user-friendly design.
Despite the potential issues associated with in-sourcing an entire treasury management function spanning systems, people and processes, Keystart did not encounter any issues with the implementation of GTreasury. Ahead of the deployment, Keystart staff were trained to use GTreasury. Simple internal processes were designed around GTreasury to enable the treasury management function to run smoothly.
GTreasury is not a one-size-fits-all. It is a modular platform, allowing you to choose what you need rather than paying for extra functionality that you don’t use.
Bringing the treasury management function in-house created a range of benefits for Keystart, including career opportunities for staff through learning new skills and systems. Staff in the finance team have also reported that they feel more engaged and enabled since the implementation.
More broadly, GTreasury has provided more clarity to management and staff in relation to business decision-making. With treasury data centralised and accessible in-house, Keystart is better able to review how business decisions are made. It also has the tools to assess the impact of each decision on other parts of the business.
By ending its outsourced Treasury Management arrangement, Keystart is realising cost efficiencies and improvements in its business processes. It has complete control of the end-to end treasury management process, which has provided the flexibility to adapt business processes and remove duplication.