Best Cash & Cash Management Providers 2022: North America


AI, big data and cloud computing are improving forecast accuracy.

Data-driven treasury has long been the holy grail of corporate treasury departments who look to their banking partners to add value to the mountains of data created by day-to-day cash management activities. Now, with the right technology and growing customer demand, banks can provide corporate treasuries with valuable insights based on clean aggregated data.

“Corporate treasury and finance teams face multiple challenges from fragmented technology infrastructures, multiple enterprise resource plans [ERP] systems, incomplete data and inefficient manual processes,” said Stephen Randall, global head of liquidity management services at Citi Treasury and Trade Solutions. “The result is poor visibility into current cash positions and inaccurate forecasts of future positions and liquidity risk.”

Citi has partnered with Cashforce to provide a solution that improves the accuracy of cash forecasting and working capital information. By extracting business data from a company’s multi-ERP infrastructure, Citi, winner of the Best Bank for Liquidity Management award, now provides a comprehensive, aggregated view of cash positions. Powered by algorithmic models and machine learning techniques, Citi’s offering leverages the Cashforce platform to help identify patterns in historical data and provide more accurate cash flow forecasts.

Faster and smarter AI

Bank of America, the Best Cash Management Bank of 2022, launched its CashPro Forecasting service, which is integrated with the bank’s CashPro banking platform, in mid-January. The new service uses artificial intelligence and machine learning techniques to predict future cash positions based on the client’s historical cash flows.

The new features do not require any client integration: users simply log into CashPro; Then, the platform relies on two years of their data from their Bank of America and third-party bank accounts before beginning to forecast the client’s cash flow needs.

In May 2021, BoA launched its comprehensive AP to help businesses digitize and automate their Accounts Payable services. leveraging Erica’s technology, our consumer bank’s cutting-edge innovation [virtual voice assistant]“to develop AI and ML solutions that will generate better insights for our customers. This year, we will leverage the substantial technology investments we made in 2021 to expand our API offerings, payment channels and our mobile capabilities.

Innovation is the name of the game for US banks seeking to provide the best solutions for their customers. BNY Mellon, which won the title of Best Bank for Payments and Collections this year, was the first bank to offer real-time service for paying bills in the United States and recently collaborated with Microsoft to support high-value electronic payments through Microsoft’s Azure cloud. -IT environment. The bank’s blockchain-based platform uses cloud-native message processing and big data analytics to allow any transaction to be traced, enriched, organized and analyzed as it is processed.

Finally, the Wells Fargo Cash Investment Money Market Fund—WFAXX, our top provider of short-term investments/money market funds, has a large portfolio and invests almost exclusively in high-quality, short-term, denominated money market instruments. in US dollars which may have fixed, floating or variable interest rates from the United States or other issuers. More than a quarter of the fund’s total assets can be invested in US bank dollar-denominated bonds. The fund also guarantees to only buy securities with minimal credit risk.

Wells Fargo has long been a proponent of data-driven insights and announced a new digital transformation strategy in September 2021 that included strategic partnerships with Microsoft and Google as part of a multicloud approach with third-party data centers to drive technological speed, agility and scalability. for its customers and employees.

Partnering with leading cloud providers gives banks even more opportunities to help corporate customers make better use of their data.


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