In a recent study conducted by Treasury Strategies, companies reported that a key criteria for choosing a bank to handle their treasury was the availability of multiple access channels. Businesses of all sizes are placing a growing importance upon their ability to gain vital financial information from phones, tablets and desktops. 

The study reported that 78 percent of companies characterized access to treasury information and transaction services across multiple channels as very or extremely important. Furthermore, treasurers using only a single channel will decline by 50 percent over the next year to 18 months.

Currently, 43 percent of respondents stated they were accessing banking information and services through more than one channel. In the next 12 to 18 months, this number is expected to increase to 60 percent.  The study showed, however, that less than 50 percent of banks are now offering these new mobile management systems.

Mike Gallanis, head of Corporate Consulting Practice for Treasury Strategies, urged banks to deploy multiple channels in the near future. He expressed surprise at how many companies make multi-channel access a priority in choosing a banking partner. 

George Ravich of Fundtech, which sponsored the study, pointed to “convenience and efficiency” of these access channels that companies are now prioritizing. Ravich suggested that these mobile financial management systems permit key financial personnel to obtain critical financial information at a moment’s notice, which translates into greater competitiveness.

Fundtech (News - Alert) has recently introduced the CASHplus Mobile Corporate Banking product for tablets. This application is a component of Fundtech’s integrated banking services for desktops, smartphones and tablets. The CASHplus program, which operates on iOS and Android (News - Alert) devices, permits treasurers to access financial records, provide wire and SCH approvals and manage exceptions.


Edited by Rachel Ramsey