What May Surprise You About Treasury Management at Old Second Bank

Juwana Zanayed, First Vice President/Director—Treasury Management

Juwana ZanayedIn today’s world, access to treasury management tools is beneficial to companies of all sizes. But, how you gain access to those tools, their level of sophistication and the support you receive once you sign up for them can vary greatly. At Old Second, we offer all the same big bank products, on a local level and with personal hands-on service.

At their most basic, treasury management products and services help your business in at least one of three ways:

  1. Increase cash flow through remote deposit or lockbox services
  2. Tailor treasury management services to reduce accounts receivables
  3. Streamline operations through improved efficiencies

As technological innovations have enabled more banks to offer these products to companies of all sizes, there has been a tendency for some of the larger banks to package these services into off-the-shelf solutions. There are some efficiencies to be gained from doing this—at least from a bank’s perspective. But, taking a one-size-fits-all approach to bringing treasury management products to mid- to small-sized companies isn’t always a more efficient option for each client.

For this reason, we customize the suite of services we offer to your firm’s needs and then scale those services to the size of your company, not the other way around. Taking a right-sized approach enables us to not only give more clients access to the latest innovations in treasury management as soon as they are available, it also ensures you only pay for the services that are right for you.

One-Stop Shop Thanks to a Team Approach

Each relationship manager has an in-depth understanding of and can suggest best practices in treasury management. This allows us to look at the customer relationship as a whole, drawing in experts from across different service areas of the bank as needed.

As a result of this approach, each client is assigned a dedicated team of experts—including a lender, treasury advisor and a wealth manager. Regardless of whom you reach out to on the team, each knows the history of your relationship and will take a hands-on approach to answering your questions and resolving any issues that may arise.

What You Need Today

In addition to treasury management and credit tools, including our BusinessManager® [DIRECT LINK to previous blog] product, we find what businesses are most in need of today is confidence that when they are transacting business online it’s secure.

Our commercial online banking platform allows you to manage your accounts twenty-four hours a day with secure access from any computer with Internet access.

For this reason, we provide our clients with access to multi-layered protection in a variety of ways. We use Trusteer Rapport, a security software, to protect online banking communication from being stolen by detecting malicious browser tampering. It can also remove existing financial malware from employee machines and prevent future infections.

Security Manager, is another software feature. It offers password authentication by generating single-use, text passcodes. Old Second also uses multi-layered security and encryption to keep bank and account information secure.

In addition, we offer two fraud prevention tools:

  • Positive Pay protects against fraud by validating each item on each check to ensure only authorized checks are cleared through your accounts.
  • ACH Fraud Protection blocks and filters information to protect against electronic fraud.

For more information our treasury management services click here. To determine which are appropriate for your firm—contact a commercial representative at 877-866-0202. We can’t wait to talk to you about what we can do for you today.

 

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