ION overhauls treasury management system

ION Treasury, a global provider of treasury and risk management solutions for corporations, financial institutions, and central banks, announced the launch of its new Wallstreet Suite solution, targeting the world’s largest and most complex organizations, central banks, and government agencies. Currently, nearly $5 trillion of cash and central bank reserves worldwide are managed using ION Treasury’s technology solutions.

The new Wallstreet Suite is an enterprise-level treasury management system and payment hub solution. It is designed to handle sophisticated treasury needs including high volumes of payments and sophisticated risk management, while providing global visibility to cash, liquidity, and exposures. The aim is to enable finance teams to achieve more through automation and exception management, making it possible to scale operations and bring greater visibility to the finance organization.

ION Treasury gathered research through its “day-in-the-life” program, customer interviews, implementations, and feedback from treasury advisory firms to better understand the sector’s evolving needs. The research showed that treasury processes were suboptimal, lacking automation and visibility, with a need for tighter integration between operational payments and treasury. To address these needs, ION Treasury has reimagined treasury processes, improved data management and technology, and reengineered the Wallstreet Suite solution.

The solution’s exception-based approach uses visual design to inform users of processing errors or required actions. Wallstreet Suite simplifies the collation of data from many external sources and then displays new information in real time across all process areas to ensure complete alignment.

Also new to Wallstreet Suite is the payment hub, which establishes a critical link between payment operations and treasury operations. The payment hub supports high volumes, centralizes bank messaging and connectivity, and delivers payments services such as sanction screening and fraud detection globally. Connecting the end-to-end process reduces operating costs by optimizing working capital decisions and managing in-house banking services.

Wallstreet Suite’s modular, service-oriented architecture means components can be upgraded as required on a low-risk basis, giving customers access to improvements and innovations at speed and reduced cost. This facilitates faster implementation, inexpensive, simplified upgrades, and increased integration capabilities with other platforms.

Michael Kolman, chief product officer at ION Treasury, said in a statement: “With its new payment processing hub, centralized workflows, and easy component upgrades, Wallstreet Suite automates business processes and increases visibility to free up treasurers’ time. At ION, we understand that CFOs and treasurers are increasingly asked to do more with less. With Wallstreet Suite, we can provide unparalleled support as the Office of the CFO continues to evolve.”

Loic Leonard, head of Product (Wallstreet Suite), ION Treasury, said in a statement: “Exemplifying our commitment to innovation, ION Treasury has continuously evolved Wallstreet Suite to provide advanced treasury processing solutions in our core markets, namely corporate treasury, central banks, asset managers, and debt management offices. Empowering Treasury through Wallstreet Suite is an exciting next step, especially as it is built with user experience and performance top of mind.”

Source

Related Posts

Previous Post
Eurex’s STIR program signs on 18 participants ahead of October go-live
Next Post
DTCC and CME to launch enhanced cross-margining in Jan 2024, including repo

Fill out this field
Fill out this field
Please enter a valid email address.

X

Reset password

Create an account