Post on 26-Apr-2020
transcript
Our Financial Institutions team understands the ongoing and emerging challenges of the industry because we’re immersed in it every day. We know a Financial Institutions competitiveness depends on the performance of their technology, but more importantly, their ability to consistently provide a distinguished level of service. We apply our in-depth industry knowledge to our work with Financial Institutions as a partner, helping them exceed expectations. The service we provide is inherently the level of service Financial Institutions provide to their clients.
The key is to work with a partner that can help narrow the range of choices to something that makes sense for their business, and outline the pros and cons of each strategy. Our goal is to work with our Financial Institution clients to implement a solution that best aligns their needs with today’s market realities.
The following case study demonstrates how Cambridge was able to address serious business issues that were facing a large Financial Institution.
A large Financial Institution with many downstream financial institution clients was facing significant international payments issues, along with process inefficiencies that were raising red flags with auditors. Although local financial institutions had the ability to make domestic payments, making international payment often became an issue, especially when the main provider was a larger bank that
Case Study: A Financial Institution Client
Cambridge was able to address the issues facing this Financial Institution through the implementation of a private label version of Cambridge Online with a Single Sign-On (SSO) login. The private label element allowed the financial institution to maintain the look and feel of their system on Cambridge’s platform, while SSO allowed for a seamless and secure transition between the websites. By enabling both, the client was able to perform all their operations using one password.
Furthermore, the SSO capability allowed for a safe and compliant integration that not only gave the client payments capabilities, but also control and reporting functionality all on one platform. By enabling different approval models, as well as the capability to create parent-child entities, Cambridge was able to ensure the delivery of excellent business practices with all required security elements.
“With a web-based, user friendly platform, Cambridge offered BBN
an opportunity to raise the bar. Drawing on the knowledge and
experience of their dedicated staff, Cambridge helped us automate our internal processes, expand
reporting capabilities and increase the functionality offered to our
community banks and credit unions.”
Lisa ReynoldsSenior VP, Risk and Technology
BBN Partners
is a competitor. In addition, due to a variety of platforms and solutions, the process was often quite cumbersome and created issues with the regulators and auditors. Furthermore, with an increasingly stringent regulatory banking environment, compliance and security issues had the potential to cause significant business risks.
“We were seeking a provider that was financially stable, and willing
to work with our unique service needs as a correspondent bank.
The team at Cambridge provided various training conference calls with our staff during a time when employee turnover was an issue. They ensure that our customers
can rely on us to facilitate problem resolution in a timely manner. Our solid partnership allows our customers to serve their own customers’ payment
needs effectively.”
Lynn EllisFirst Vice President
The Bankers’ Bank Kentucky
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Cambridge Global Payments is a trade name used by the following legal entities: Cambridge Mercantile Corp., Cambridge Mercantile Corp. (U.S.A.), Cambridge Mercantile Corp. (UK) Limited, Cambridge Mercantile (Australia) Pty. Ltd. Cambridge Mercantile (Australia) Pty. Ltd. operates under ABN No. 85 126 642 448 and AFSL No. 351278. Cambridge Mercantile Corp. (UK) Limited maintains a registered office at 71 Fenchurch Street, 10th Floor, London, EC3M 4BS, and is: registered in England and Wales, Company No. 5271222; authorised by the Financial Conduct Authority (FRN 900702) under the Electronic Money Regulations 2011 for the provision of electronic money and payment services; and is registered with the Information Commissioner’s Office, Registration Number ZA031019.
Case Study: A Financial Institution Client
The Wire Administrator of a
client logs on to the Financial
Institution’s website
The user is then seamlessly
transfered to Cambridge Link to
execute deals
Robust and customizable
reporting tools help closing accounting
cycle
New common scenario for a financial institution’s client would look like this:
“Since 2012, EasCorp has partnered with Cambridge Global Payments to enable FX payments for its member financial institutions throughout the United States. Cambridge’s online transaction platform is modern and efficient. Pricing
is competitive and equitable. The company is very customer-focused as evidenced by how it responds to the very occasional glitch in a transaction-intensive, complex undertaking. Issues are escalated immediately, and they are
resolved in a very timely fashion. Bravo, Cambridge, for balancing dynamic growth during the past three years with excellent customer service.”
Jane MelchiondaChief Executive Officer
Eastern Corporate Financial institution (EasCorp)
Your bridge to the world.cambridgefx.com □ info@cambridgefx.com
Cambridge Global Payments is a trade name used by the following legal entities: Cambridge Mercantile Corp., Cambridge Mercantile Corp. (U.S.A.), Cambridge Mercantile Corp. (UK) Limited, Cambridge Mercantile (Australia) Pty. Ltd. Cambridge Mercantile (Australia) Pty. Ltd. operates under ABN No. 85 126 642 448 and AFSL No. 351278. Cambridge Mercantile Corp. (UK) Limited maintains a registered office at 71 Fenchurch Street, 10th Floor, London, EC3M 4BS, and is: registered in England and Wales, Company No. 5271222; authorised by the Financial Conduct Authority (FRN 900702) under the Electronic Money Regulations 2011 for the provision of electronic money and payment services; and is registered with the Information Commissioner’s Office, Registration Number ZA031019.