Trésorier/Treasurer magazine - N°98 - July/Aug/Sep 2017 - 17

Talk to your affiliates before to make

FOCUS

sure they validate your choices or

Are banks really improving
their on boarding processes?
Yes, they try to do better. The difficulty resides in the fact
they do not have a dedicated technical person in charge to
coordinate the process of implementing a solution. They have
multiple resources (in general) and no one to coordinate them
properly. Let's take the example of SWIFT MyStandard which
help pre-testing. Is the bank ready to be on KYC register like
SWIFT, Thomson-Reuters or kyc.com? If so it illustrates their
will to smooth on boarding processes. The ISDA validation
process is always a good way to test the water and to check
whether the bank will be open-minded and business-oriented
or inflexible. Ask always for references and call them to check
whether they were satisfy by services and promises. The

- JULY
N°98

best way of success is linked to people. Have access to the
right one(s) and get strong support from your GRM (i.e. Global
Relationship Manager) to make sure they'll deliver. They try
to enhance proposal given hard competition. The success
factor is often to identify within their organization who is "the"
contact person for specific issues, like technical ones with
SWIFT and bank connectivity. Banks are huge organizations
and if you don't find the right person and a good coordinator,
you can be lost and the project bogged down.

RFP's or at least RFI's and then beauty contests are tools to
properly select bank partners and to give a chance to competition. You will never be enough detailed in your RFP and will
never get 100% comfort proposal and commitments will be
implemented perfectly. And even if comprehensive as well as
bank answers and proposal, you will still depend on quality of
service(s). It is never guaranteed, unfortunately. The service
remains a human issue at a time we all talk about Artificial
Intelligence. Isn't it a sort of paradox?
François Masquelier,
Chairman ATEL

Let's keep in mind the 5 p's British

Piece of advice for any treasurer thinking
about changing relationship banks

LE MAGAZINE DU TRESORIER / TREASURER MAGAZINE

How to make the process easier for treasury?
A well-prepared and comprehensive RFI//RFP is the preliminary step for a successful change in BAM. They can anticipate
resources needed from the Corp side and be overcautious.
They should also be conservative in terms of planning for
the implementation. Let's keep in mind the 5 p's British army
principles: Proper Preparation Prevents Poor Performance.
RFP's aren't, in general, enough detailed and the technical
requirements seldom enough developed. It means that the
risk is to get uncomplete answers and to be surprised at
implementation if the bank is not able to deliver the specifications defined. You will never be too detailed in such exercise.
You'll be very often too vague and not sufficiently precise.
Ask for tests and references. Check whether the bank is on
SWIFT MyStandard, for example. Require example of MT 940
to check whether you will be able to automatically reconcile
operations. You should never forget that a RFP is also a way
to gauge bank ability to deliver, to innovate and to serve its
customers. The quality of the answers is a key factor when
selecting the bank.

/ AUG / SEP 2017

even better your recommendation.

army principles: Proper Preparation
Prevents Poor Performance.

http://www.kyc.com

Trésorier/Treasurer magazine - N°98 - July/Aug/Sep 2017

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