Redbridge Exhibits at TEXPO 2019
Marriott Woodland Waterway | April 7 – 9, 2019 – Redbridge is excited to exhibit at TEXPO in Houston, Texas.
Top Seven Tips for Better Bank Fee Negotiations
How do you know you are getting the best rates for the fees you are paying to your banks? You could compare what you have paid in the past or what you pay to other banks. However, are those truly accurate benchmarks? Each banking relationship varies with the multitude of services provided by each bank. The rates you pay in fees could vary just as much as the number of services you use at each bank. Utilize the below tips for smooth bank fee negotiations.
How to Survive the RFP Process
We have discussed the stages of your banking relationships and tips for a successful RFP but what does an effective RFP process look like? There are steps in the process every company should progress through for a successful RFP process. Below we detail those steps along with a few insider tips from Redbridge experts who have worked through countless RFPs with our clients.
Maximize the Value of Your Bank Relationship by Decoding Your Account Analysis Statements
There are two sides to the account analysis dilemma; establishing the baseline and regular auditing. To adequately solve for the bank fee problem you must do both.
The Challenges of Obtaining and Understanding International Bank Fee Statements
Analyzing international bank fee statements requires in-depth knowledge of international banking structures, accessibility and visibility into local bank fees, and copious amounts of time and resources. Many treasurers do not make it past the first step of obtaining their international bank fee statements in useable formats to then progress to understanding their fees across multiple countries.
Do Not Let RFPs Give You The Blues
Now that you have determined which stage in the relationship you are in with your bank, it is time to evaluate the strength of the relationship. Banking relationships are based on performance, risk, and profitability KPIs. These relationships come down to two main objectives: fairness and accountability. For something to be truly fair, there should be transparency on all sides. Transparency and accountability are the foundation of a long-standing relationship.
Using Technology to Gain a Competitive Advantage
Analytics is helping banks and corporations gain a competitive advantage by delivering actionable insights as well as an effective solution for addressing issues like safety and compliance. The corporate world can use the same technologies and strategies to address the challenge of bank account management (BAM).
Are You Married to Your Bank?
Is the relationship you have with your bank really that different from your personal relationships?
“KYC4Corporates will help companies connected to SWIFT to reduce their compliance costs” – Marc Delbaere, SWIFT
The SWIFT network is set to extend its KYC solution, which is currently used by 5,000 banks for correspondent banking activities, to companies. It aims to offer the 2,000 companies connected to the network a structured information exchange solution – one that is already used by partner banks for customer verification processes – by the end of 2019. Interview with Marc Delbaere, SWIFT’s Head of Corporates & Trade.
Trading firms and banks: who’s afraid of whom?
Commodity traders have a mutual interest in improving the overall risk perception of their sector and its practices. It is also important to understand what’s driving the banks’ lending decisions, says Mihai Andreoiu, Senior Director at Redbridge.
Start 2019 With the Best Banking Relationships
Without effective two-way communication, your banking relationships can quickly deteriorate. Read more to understand how to strengthen your company’s banking relationships in 2019.
The 5 Common Banking Fees Errors
Is your business grappling with excessive banking fees? Are they accurate or erroneous? An analysis of your bank billing statements can help you solve this dilemma and identify banking fees errors. It is not uncommon for a banking institution to make errors that affect their customers. In January 2018, Wells Fargo double-charged an unknown number of consumers due to an internal processing error. Below, we break down five of the common billing errors we see when helping our customers.
Why Should a CFO Care About AFP Codes?
Does everyone in the organization need to care about banking with providers who use AFP Service Codes? The simple answer, they should!
Is Your Bank AFP Accredited?
The winds of change are blowing and improving global bank billing.
AFP Service Codes: The General Ledger Chart of Accounts for Bank Fees
For more than 30 years, AFP Services Codes© have been recognized as the industry standard for identifying service charges that appear on account analysis statements and in responding to RFPs.