Health Insurer Maintains Healthy Banking Relationships & Reduces Fees With Redbridge
Industry
Insurance
Region
North America
Service
Cash Management
Challenge
A leading healthcare organization approached Redbridge because they were having difficulty organizing and monitoring their bank fees. Multiple ongoing projects and conversion efforts added pressure, and their treasury team was overwhelmed by the complexity and volume of transactions and needed help finding transparency.
Solution
This client partnered with Redbridge to implement HawkeyeBSB, our advanced fee analysis and benchmarking software, to simplify and enhance their cash management processes without disrupting their existing banking relationships. This technology allowed for tracking and management of fees, ensuring that all banking interactions remained transparent & under control.
Results
The collaboration yielded significant results, including a 225-basis point increase for yield on balances, generating an additional $6.5 million in annual earnings. The use of Redbridge’s expertise not only saved the client time and allowed them to accelerate their financial management project but also secured cost reductions and generated additional revenue through improved yield on balances.
“Our goal was to bring clarity and control to a complex banking environment. By implementing HawkeyeBSB, we helped the client uncover hidden opportunities, turning transparency into measurable gains.”
Mike Russell
Director, Redbridge