CareCredit - Women's Health April 2024

Hazeltree Debuts Enhancements to Treasury/Liquidity Management Platform

spend management

Treasury and liquidity management provider Hazeltree has rolled out an enhanced version of its platform.

“Hedge fund and private markets clients will benefit from enhanced user experience, increased ease of remote access, and more robust security, allowing processing of transactions on the Hazeltree platform from anywhere at any time, as hybrid work models become the norm,” the company said in a news release Thursday (March 14).

According to the release, the platform’s functionalities include secure remote access, removing a requirement for IP whitelisting and letting clients access Hazeltree’s services from a laptop or remote work location.

There’s also a mobile approver app, letting users to approve or decline transactions, including vouchers and wires from smartphones and other mobile devices. Fund administrators can use the app to support more than one client.

Kevin Held, Hazeltree’s CFO, touched on this topic during an interview with PYMNTS last summer, noting that clients want the option to connect to multiple institutions from one portal.

“Client questions went from, ‘Can I use you for X Bank?’ to ‘Can I use you for multiple banks?’ And, ‘If I’m using you for multiple banks, do I need multiple portals?’” Held said. “Our platform provides us the ability to allow the customers to use our one portal to access multiple institutions.” 

Held spoke to PYMNTS for the series “The One Thing,” discussing how both companies and individuals were demanding more assurance that their money was safe.

“Security is paramount to anything that we have, making sure that our system is secure, that we’ve got our own testing done, pen [penetration] testing, things like that on the back end of the system,” Held told PYMNTS. “Being comfortable that the system is really buttoned down is of utmost importance.”

In the wake of last year’s banking crisis, that report noted, companies were no longer content with connecting to just one bank; they wanted the ability to connect to multiple institutions through a single portal, one that’s the equivalent of Fort Knox.

“Thinking about myself, what are the most important things for me using a bank and using a payment platform? It’s going to be security and who I can connect with,” Held said. “I’m thinking about if I am going through the process of being able to release a payment, who sees it?