U.S. Bank Updates SinglePoint Treasury Management Platform

U.S. Bank is introducing an update to its treasury management platform SinglePoint.

The enhanced offering, announced Monday (Oct. 27), is designed to help the bank’s business clients more easily manage their liquidity, cash flow and financial risk.

“SinglePoint is often a daily point of entry for businesses to manage their payables, receivables, liquidity, fraud mitigation, international banking and foreign exchange,” the bank said in a news release.

“The new and innovative version of SinglePoint reduces manual work, delivers actionable insights, optimizes common user flows, and helps clients uncover operational blind spots like never before.”

Features include “configurable, persona-based” dashboards and user flows, curated using “years of research” to let clients more easily access key data and business functions. The updated platform also includes improved risk management and fraud protection with controls and approved workflows designed to prevent the risk of fraudulent payments.

“Our clients — from small businesses to large firms operating globally — count on U.S. Bank every day to keep their operations running smoothly. We wanted their experience with SinglePoint to be as seamless and empowering as possible,” said Mark Runkel, head of Payments: Merchant and Institutional. “This overhaul reflects our deep commitment to helping them operate more efficiently and confidently in a fast-moving world.”

The updated SinglePoint comes days after U.S. Bank Avvance debuted a developer portal that allows financial institutions and FinTechs to offer embedded financing options to customers. The offering lets institutions embed point-of-sale financing into their platforms, allowing merchants to offer their customers loans from $300 to $25,000 with terms ranging from three to 60 months.

In other treasury management news, PYMNTS wrote recently about the rise of liquidity hubs, centralized digital platforms that can consolidate a company’s cash positions, bank accounts and intercompany flows.

“The concept is simple: replace the patchwork of disconnected bank portals and spreadsheet reconciliations with a unified layer of connectivity, analytics and control,” that report said. “Behind that simplicity lies a complex rethinking of how global liquidity itself is orchestrated.”

Traditional treasury systems have long aspired to this, but most have been held back by data latency, fragmented interfaces and the lack of standardized connectivity.

Every bank has its own portal, and every ERP system has its own workflow. The liquidity hub model opens these silos by sitting above them. Powered by open-banking APIs, SWIFT connectivity and host-to-host integrations, the hub acts as a real-time nerve center for treasury operations, PYMNTS wrote.

“One thing that all treasury organizations are looking for is visibility into their global activity,” Sebastian Sintes, director of transactional FX at Bank of America, said in an interview with PYMNTS last month.

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