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Bank Of The West Relies On Axway To Govern The Flow Of Data With Leading Cash Management Client Integration Solution

March 7, 2014

Banking: Cash flow problem

Bank of the West clients on the new platform have seen benefits including: Cost savings through the united states elimination of manual processes Reduced risks of human error in processing Faster transaction processing times Bank of the West developed a strategic approach called SecureDirect, which set the stage for growth and supported its three primary service pillars: banking integration, enterprise integration and technology partnerships. Having already deployed Axway SecureTransport for controlled and trackable file transfers, Bank of the West was able to integrate the Axway 5 Suite into the platform seamlessly without having to replace what was already being used. We wanted to deploy a platform that would allow us to help our customers be efficient and effective, said Dan Nagy, cash The Elevation Group management division manager at Bank of the West. Axways technology not only helped us address the immediate customer needs in payables, but also allowed us to get ahead of the curve and prepare for our clients future needs. By leveraging the Axway 5 Suite to govern the flow of data, Bank of the West is now able to respond to requests for services such as integrated payables, e-payables, real-time machine-to-machine communication and more. Additionally, Bank of the West now offers customers and prospects key competitive benefits, including: Flexibility to support any client format, standard or proprietary: Allows Bank of the West to map customer files in whichever format needed. Real-time, multichannel monitoring and reporting: Allows Bank of the West to know when issues, or potential issues, need attention through alerts and rules built into the system, increasing the level of data-flow visibility.

Not only can this potentially save you fees, you can avoid the whole issue of banks and other institutions engaging in dual pricing rolling your investments over to a lower rate term deposit when it expires. ASIC has found that institutions are advertising high rates on some of their term deposits and maintaining low rates on others. When term deposits mature, theyre automatically rolled into the same term unless you direct otherwise. The problem here is the rate will more than likely be very different to the one you locked in. Even if youre happy for it to be reinvested for the same term, its in your interest to shop around. If you do happen to roll into the same term but at a lower rate, you can break the fixed contract if youre willing to sacrifice some of the interest earned.

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