To identify the optimal banking structure, fees and services configuration, an unbiased and competitive process is primordial
There is no such thing as ‘one bank fits all’.
Encouraged by a raft of new regulations worldwide (i.e. Dodd-Franck, Basel III, PSD, SEPA, etc.), cash management practices and services have been considerably transformed in recent years and are continuing to evolve.
Banks constantly change their service offerings, rates, fees, and appetite for new accounts. What they agree to do for one client may not apply to other clients.
Reasons for optimizing banking structure and cash management services configuration are generally linked to:
- service quality
- pricing aspects
- evolution of the pool of banks
- change of scope
Before considering a structural review of cash management services offered by banks, corporate treasurers should answer a number of questions:
- what are existing banks’ capacities to handle our existing cash flow and activity?
- is our business shared across my banking network balanced?
- are we leveraging and being thoughtful about yield on liquidity?
- are there alternative banks that we should consider?
- what new regulations and market changes should we be thinking about as part of this analysis?
How Redbridge can help you?
Redbridge has found that a review of existing bank conditions and bank account structures should be completed every three years.
Our approach will transform your bank relationships into balanced and proactively managed partnerships.
- services customized to each client’s needs
- regular monitoring to ensure the newest and most relevant services are being utilized
- most relevant price points