ION Treasury has introduced an enterprise-level treasury management system and payment hub solution.
The newly expanded Wallstreet Suite is designed for the world’s largest organizations, central banks and government agencies, the global provider of treasury and risk management solutions said in a Tuesday (Sept. 12) press release. The solution is meant to handle complex treasury needs, automate processes, increase visibility and support finance transformation.
“Empowering treasury through Wallstreet Suite is an exciting next step, especially as it is built with user experience and performance top of mind,” ION Treasury Head of Product (Wallstreet Suite) Loic Leonard said in the release.
ION Treasury researched the needs of the treasury sector, the release said. The findings revealed treasury processes lacking automation and visibility, with a demand for tighter integration between operational payments and treasury. In response, ION Treasury “reimagined treasury processes, improved data management and technology, and reengineered the Wallstreet Suite solution.”
Wallstreet Suite aims to enable finance teams to achieve more through automation and exception management, per the release. By automating processes and providing visual cues for processing errors or required actions, the solution simplifies data collation from external sources and ensures real-time visibility across all process areas.
One notable addition to Wallstreet Suite is the payment hub, which establishes a “link between payment operations and treasury operations,” according to the release. “The payment hub supports high volumes, centralizes bank messaging and connectivity,” and offers payment services such as “sanction screening and fraud detection globally.”
ION Treasury Chief Product Officer Michael Kolman said in the release that chief financial officers and treasurers are being asked to do more with less, and Wallstreet Suite can help them in their evolving roles.
Migrating away from manual and paper-based processes is one of the top priorities for modern treasurers, Kolman told PYMNTS in an interview posted in May 2021.
“One process that’s heavily paper-based is anything related to bank account management,” Kolman said at the time. “Adding and closing bank accounts, changing signers on a group of accounts, all of that requires forms that are provided by the bank that need to be completed and sent back in the form of original copies.”
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