Over the last few months our product team has received multiple requests on whether we can white label our product suite for a bank or another financial institution. i.e. can we make the treasury sciences suite of products available to say, the customers of a bank via the banks portal. This post describes how a bank or a financial institution can go about white labeling our products and how it will work providing potential benefits for the bank and the bank's customers.
I am making an assumption upfront that you are the bank and that you have had conversations with us, have seen our product demonstrations, believe that our Cash Management Operations module (for the purposes of this post) will be beneficial to your customers and have decided to white label one or more of our modules- say our Cash Management Ops module.
Working backwards from the end result, the integrated white labelled solution will work as shown in the picture below.
Your bank's customer's account manager would be able to login into your banks backend administration portal and make the TS CMO product available to the respective customer - the integration that is needed will be accomplished by our product team working with the technical folks at the bank. The TS CMO system can be setup such that all relevant customer accounts are automatically loaded into it from internal bank system - again an integration point that can be accomplished at the backend. In addition to this, the third integration point at the backend between TS CMO and bank internal systems will ensure that prior and current day reporting files are automatically loaded into the TS CMO instance for the customer.
Now let us discuss some of the other key questions or features that potential customers of the bank would expect out of a Treasury Management System.
Multi Bank Connectivity
So the bank's customer is now ready to use the bank branded TS CMO product for their cash management purposes using the accounts at the bank fairly quickly . What if the customer has additional accounts at other banks that would contribute their cash position? The customer has 2 choices, they could manually upload any bank reporting files from any number of banks into their CMO instance with minimal end user setup OR setup automated connectivity between their other banks and TS CMO. Our product support team could do the integration or the bank's internal IT staff could do that.
Training
A key element here with regards to bank customer on-boarding is training the customers users. Each feature and functionality provided by our products is available as short videos that are available to users 24x7, so users can view the demonstrative videos and perform their daily tasks. Our product support team could always train the bank's support staff as well as needed. Most importantly, all our products are intuitive and easy to understand and use, there by reducing the training needs considerably.
Product Features
All treasury management features that are supported by the product module chosen will be available to the customers of the bank. A detailed look at all our product modules and the features and functionality supported can be viewed
here. For this post I have chosen CMO as the product module being white labelled but do note that all
our product modules can be white labelled.
Integration with a customer's internal systems
Configurability and Integration are a core strengths of our product- be it integrating into
one or more GL systems to enable straight through processing or multiple systems that can
forecast transactions; our product suite enables XML based standard integration features out of the box. What this means to the bank's customer is that they can use the integration features provided out of the box to integrate with any internal system they have by simply transforming the output file provided or input files required by the treasury sciences suite. Our product suite could always help them with these needs as well.
We believe that by white labeling our CMO module, a bank or financial institution can provide enterprise treasury management functionality to their customers in a seamless, cost effective way. Do let me know should you have any questions.