B&E Banking

by | Aug 1, 2017

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Key Points

  • B&E swaps spreadsheets for automated treasury management solution
  • Time to produce ALM reports reduced from more than one week to less than a day
  • Manual processes replaced with faster, accurate and streamlined automated alternatives
  • Visual Risk now handles activities that used to be handled by banking platform, such as wholesale funds management

Background

B&E Personal Banking is a Tasmanian financial institution with a comprehensive suite of personal and business banking products and services. The proudly conservative institution serves over 30,000 clients. It has eight local branches and manages more than $700 million in assets.

Challenge

B&E managed its treasury operations for several years with a hybrid solution of retail banking applications, Excel spreadsheets and paper- based processes. This approach suited B&E in the short term, but as data volumes increased, it created challenges for both operational staff and senior executives.

B&E lacked central oversight over its treasury portfolio because data was distributed across disparate systems. Within each system, the accuracy of investment, budget and decision records was dependent on staff remembering to manually update them.

Furthermore, B&E had a limited ability to use treasury data to inform strategic decision making or generate insightful reports. Its systems lacked necessary analytical and predictive capabilities. External providers were engaged for some analytical functions, such as ALM reporting. However, with poor visibility of the analysis undertaken, B&E staff often lacked confidence in the reports provided. At the same time, manual processes for collating financial data were time-consuming and inefficient. Some reports took weeks to complete.

As a conservative customer-owned institution, B&E had a strong strategic focus on minimising its exposure to risk. It needed an integrated treasury management system that not only kept accurate and centralised records of investment decisions, but also offered insight into the overall performance of the treasury portfolio.

“The previous solution worked for a while, but we lacked the ability to analyse data ourselves or understand the results of the analysis”

Gerald White, Chief Financial Officer, B&E Banking

Solution

Visual Risk offers a broad suite of treasury modules for Financial Services and after careful deliberation, B&E chose to implement three Visual Risk modules: Treasury Management, Asset Liability Management and Integrated Market Data.

For the team at B&E, Visual Risk’s easy-to-use software was a key selling point.

“At a presentation, we saw that Visual Risk was much more intuitive and user-friendly than other products we’d seen.” – Honni Pitt, Financial Controller

Additionally, Visual Risk’s flexibility, which allows multiple features to be integrated based on a client’s specific requirements, proved highly appealing to B&E.

Results

Visual Risk has transformed B&E’s treasury management and ALM operations over the past three years. It has created powerful efficiency gains and enhanced its ability to draw insights from data.

  • Streamlined reporting: With previous systems, staff typically spent four days collating data for ALM reporting (managed by an external provider) and waited a week or longer to receive the final report. With Visual Risk, B&E staff run ALM reports in-house. The entire process, including obtaining data, entering data and generating reports, takes just one day.
  • Data visibility: With a centralised and intelligent treasury system, Visual Risk has provided B&E with full visibility of its treasury portfolio. Importantly, this capability extends beyond static records by allowing treasury staff to calculate, analyse, evaluate and forecast key
  • Powerful data insights: Visual Risk has provided B&E new abilities to build scenarios for modelling investment and budget decisions. Staff can assess and explain impacts in new
  • Process automation: Visual Risk has automated time-consuming processes including manual data entry, sending confirmations and reporting. B&E staff members have more time and energy to focus on high value work, rather than expending effort on manual
  • Expanded treasury functions: Visual Risk’s data capabilities have enabled B&E to broaden the scope of its treasury They now apply Visual Risk to handle all investments and wholesale bookings, and to streamline repurchase agreements with the Reserve Bank of Australia.

“We spoke to similar organisations using Visual Risk and the feedback was very positive. Visual Risk allowed us to move ALM reporting in-house and integrate it with treasury management – we could do more with it and trust it all.”

Honni Pitt, Financial Controller, B&E Banking

Future plans

Having used Visual Risk with excellent results for three years, B&E will soon engage a consulting firm to undertake a treasury review. As part of this, it will identify further opportunities to use Visual Risk, such as to simplify hedge accounting.

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