Bank of the West’s TreasuryNow Platform Enables Companies To Manage Payables, Cash Flow

On Tuesday (Nov. 9), BNP Paribas subsidiary Bank of the West debuted its new treasury management platform TreasuryNow, per a company press release.

According to the release, the platform is designed to offer companies better access to treasury management and provide them with options for managing cash flow, cutting risks, optimizing liquidity and boosting visibility.

Additionally, the interface will reportedly cut down on complexity of various domestic and worldwide treasury processes, making it simpler for companies of all sizes to make payments, transfers and collections.

“The role of treasury professionals has never been more important — or more strategic,” Meghan Birmingham Leader, executive vice president, head of transaction banking, corporate and commercial banking at Bank of the West, said in a statement.

“And with TreasuryNow, Bank of the West is at the forefront of today’s dynamic treasury management environment,” she continued. “This flexible platform delivers unprecedented levels of performance, convenience, and insight. It’s a one-stop shop for managing treasury operations.”

TreasuryNow features automated processing, faster data access and the flexibility to work with numerous payment types, transfers and collections for multiple currencies.

The platform will also include robust payment modules to manage payments centrally including things like real-time payments, automated clearing house (ACH), cross-border wires and more, while also offering enterprise resource planning (ERPs) integrations to help manage day-to-day routing and approvals.

The release states that TreasuryNow will also offer multilayered security and omnichannel connectivity to support more user experiences, along with interactive customer support.

PYMNTS reports that Hisham Salama, chief digital officer and executive vice president for Bank of the West, recently told PYMNTS that there’s been a refocusing of consumer interest on the speed of transactions.

Read more: Bank Of The West: How Merchants Can Keep Pace With Emerging A2A, P2P Payment Preferences

Many have been using account-to-account payments to shop at in-person store, and Salama said it was important for retailers to utilize these new preferences to help retain and grow their customer bases.