Unlocking Excellence

Offering a customer experience uniquely tailored to your accountholders needs and providing them with the right tools at the right time is the defining competitive differentiator in the banking industry today – and for good reason.

In fact, 93% of organizations perceive customer experience as a competitive differentiator.¹

As banks vigorously compete for lucrative commercial deposits and lending relationships in today’s overly competitive market, offering your customers the tools they need to succeed is imperative to your success.

what makes up a good customer experience?

A positive customer experience in banking is based on trust, convenience, and a genuine understanding of your customers’ needs.

With countless business banking solutions on the market (SMB, commercial cash management, third-party, treasury management solutions, etc.), it can be challenging to identify the right tools and technology to offer your customers. As a result, many banks underestimate their need to deploy treasury management tools.

understanding your customers and their needs

Offering an exceptional customer experience begins with understanding your customers’ unique needs and recognizing when they’re ready for a more advanced digital experience.

Here are five signs your commercial accountholders need more than just an SMB-focused or all-in-one solution:

1. The business requires advanced reporting capabilities to support a large number of accounts. This includes access to a catalog of reports with custom combinations from daily transaction reports to custom date-range balance reviews.  
   
   
2. Advanced ACH features are needed to support the business needs of your customers. These customers need to supply or receive EDI data or use ACH transfers to support state and federal tax payments, child support withholding, international IAT transactions, and more. Or, they may want to upload their ACH files directly from their A/P software rather than rekeying.
   
   
3. Your customers are high-activity users who generate tens, hundreds, or thousands of payments weekly and need a user experience that includes templates, history, and the ability to easily manage a vast number of trading partners, vendors, or suppliers.
   
   
4. The business has a finance department that’s actively managing its business investments, cash flow, and financial accounts to maximize ROI while meeting its liquidity targets, in addition to employees who each serve distinct functions and need different views and permissions within the digital environment to perform their roles effectively.
   
   
5. You have customers who take fraud seriously and want to actively manage incoming ACH and check activity through Positive Pay functionality.

Whether you uncover these needs while prospecting or during an annual account review, these signs indicate your customers are ready for the advanced functionality of a treasury management solution.

elevate your experience with treasury management

JHA Treasury Management™ is a highly configurable cash management solution that empowers you with the ability to provide a better user experience through feature-rich capabilities, speed, and simplicity.

This stand-alone, revenue-generating tool is built to attract, serve, and maintain relationships with your commercial clientele. Differentiating features within JHA Treasury Management like cash concentration and disbursement (one-to-many and many-to-one), check fraud detection and prevention, detailed reporting, and comprehensive dashboards allow your more advanced business customers to gain a holistic view of their entire financial position.

With a customizable and comprehensive banking solution like treasury management, you can help your business customers scale and deliver business banking capabilities for companies of every size – providing your customers with the functionality they need to manage day-to-day cash flow and their near- and long-term financial positions.

JHA Treasury Management offers a wide-range of capabilities to help you elevate your business customers experience, such as:

• ACH payments: In today’s business environment, speed is key – and faster payments have become the new reality for all businesses. Leveraging ACH payments solutions within JHA Treasury Management can help your business customers increase the speed and profitability of their payments. JHA Treasury Management also offers flexible file formats and batch upload abilities through a user-friendly interface specifically designed for high-volume ACH users.
  
  
• Check and ACH Positive Pay: Mitigating fraud attempts is crucial – especially in today’s digital landscape where fraud threats are ever-present. JHA Treasury Management is equipped with check and ACH positive pay features that allow your customers to review exceptions, enter decisions from the dashboard, view their history, and manage filters. Collectively, these features help your business customers identify and return fraudulent ACH and check activity before theft occurs.
  
  
• Domestic and international wires: Built to process both incoming and outgoing domestic and international wires, JHA Treasury Management’s next-generation capabilities empower your customers to create, send, and receive wires, expedite funds availability, and eliminate holds with guaranteed funds. Domestic wires leverage the FedWire Funds Service to support the entry and processing of wire transfer information, offering your customers the option to map their file fields and easily upload wires directly from their A/P solution.
  
  
• Customizable dashboards and entitlements: Harness the power of customization. JHA Treasury Management is fully customizable – allowing each user to create a dashboard that aligns with their unique needs (with frequently used reports and easy access to necessary transaction types, approvals, and exception management). Templates simplify the setup of new users while entitlements ensure the right people have the right access.
  
  
• Progressive web app (PWA): Business happens on the go, so providing a solution that works across multiple devices (smartphones, desktops, and tablets) is essential to empowering your customers with an exceptional banking experience. JHA Treasury Management is built with convenience and simplicity in mind, with an interface that offers more frequent feature updates without the need for end-users to ever download a new version of the app.

In today's dynamic banking landscape, where customer experience is a paramount differentiator, embracing treasury management tools is not just a strategic move; it's a necessity.

connecting possibilities

Contact a Jack Henry expert today to discover how you can improve your accountholder experience with the progressive web app within JHA Treasury Management.

For more information about Jack Henry, visit jackhenry.com.

sources

¹Philip Dudovicz. 12 Banking Customer Experience Trends to Watch in 2023, Hitachi Solutions, accessed January 31, 2024.