Charter Hall wins Gold for its innovation in liquidity management and cash forecasting; CUNA Mutual Group takes Bronze for technology excellence
CHICAGO, June 03, 2021 (GLOBE NEWSWIRE) — GTreasury, a treasury and risk management platform provider, today announced that GTreasury customers CUNA Mutual Group and Charter Hall have won 2021 Alexander Hamilton Awards. The annual awards, presented by Treasury & Risk and now in their 25th year, recognize companies taking leaps forward in treasury, finance, and risk management through process innovation and technology implementation.
Charter Hall, which leverages GTreasury’s digital treasury ecosystem for real-time cash and liquidity management, is the Gold winner in Treasury & Risk’s Liquidity Management category. One of Australia’s leading fully integrated property groups, Charter Hall’s accelerating growth had spurred increased demand for real-time cash analytics to inform its property investment decisions. Particularly as 2020 unfolded with rising uncertainty, the treasury team at Charter Hall realized that the more accurate its cashflow forecasting process could be made and the clearer that cash visibility could become, the better positioned the company would be to quickly and confidently act on critical business decisions.
Charter Hall chose to transform its liquidity management processes by implementing a scalable and automated transactional banking structure. The modernization strategy eliminated most of the manual processes that would otherwise hinder visibility into real-time cash balances. Charter Hall was able to forecast cashflow across 45 funds – including consolidating all liquidity analysis reporting – and free up tens of millions of dollars of working capable with its new approach to liquidity management in place.
CUNA Mutual earned its Alexander Hamilton Award for Technology Excellence. The billion-dollar mutual insurance company had recently launched a new pet insurance business, but sought a more customer-friendly and cost-effective strategy for verifying and processing payments. The CUNA Mutual treasury and IT teams collaborated to develop and implement a modernized solution that could offer ongoing cost and competitive advantages across several fronts.
CUNA Mutual simplified its payments system by connecting its treasury management system with APIs that could integrate key data sources and more easily provide new technical capabilities. Doing so significantly reduced payment processing times, reduced CUNA Mutual’s bank transaction fees by 97 percent, and improved the customer experience by eliminating the need for microdeposits to verify accounts. Moreover, CUNA Mutual’s success transforming its payments infrastructure in its pet insurance business has provided the blueprint for more widespread deployment across other areas of its organization.
“We congratulate Charter Hall and CUNA Mutual Group for winning prestigious Alexander Hamilton Awards,” said Ashley Pater, Chief Product Officer, GTreasury. “The distinctions are well-deserved for both organizations. Charter Hall exemplifies what is possible by pairing a clear plan for transformation with keen use of the tools and technologies that enable that change. CUNA Mutual’s deft use of treasury technology enabled the company to champion customer experience with its new insurance product – as well as pave the way for adding similar competitive advantages throughout other facets of its business. We look forward to working with both companies as their growth stories continue.”
For more than 30 years, GTreasury has delivered the leading digital Treasury and Risk Management System (TRMS) to corporate treasurers across industries. With its continually innovating Software-as-a-Service platform, GTreasury provides customers with a single source of truth for all their cash, payments, and risk activities. The TRMS solution offers any combination of Cash Management, Payments, Financial Instruments, Risk Management, Accounting, Banking, and Hedge Accounting – seamlessly integrated, on-demand worldwide and fully secured. Headquartered in Chicago with offices serving EMEA (London) and APAC (Sydney and Manila), GTreasury’s global community includes more than 800 customers and 30+ industries reaching 160+ countries worldwide.