New solution helps banks price commercial relationships to optimize capital and revenue
White Clay, a company that helps community and regional financial institutions improve relationships and increase revenue, announced the launch of its Treasury Management Pricing and Profitability solution.
Determining the pricing and profitability of treasury management relationships can often be manual and cumbersome, requiring bankers to spend hours entering data in Excel spreadsheets. Using Excel spreadsheets can cause risk and compliance issues. Moreover, bankers manually pricing these relationships often lack visibility into the entirety of the relationship. Inaccurate pricing can impact a bank’s ability to optimize revenue and capital, which are especially important to remain resilient in today’s economic environment.
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White Clay’s new Treasury Management Pricing and Profitability solution solves these pain points by offering a modern, automated and efficient alternative. This solution is an add-on to White Clay’s existing platform, which helps banks build a history of clean and curated data to effectively price the entirety of their banking relationship and increase profitability. Banks need clean data history to accurately price relationships, which is why implementing the platform first is recommended.
The Treasury Management Pricing and Profitability solution is robust and scalable based on the needs of each bank. White Clay works with banks to determine their pricing strategies, then configure the solution to help increase profitability and boost revenue. As a result, bankers benefit from a single overview of the performance of their treasury management clients and can identify and track opportunities to grow and support these relationships. The solution has an automated pricing approval system and tracks annual reviews, saving bankers time while improving the customer experience. White Clay can also pull in key information needed to compare different pricing scenarios, helping bankers optimize discounts. Once pricing is determined, bankers can generate pre-populated forms, helping them have more informed conversations with clients and prospects.
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Additionally, White Clay’s solution allows the leadership team to gain greater visibility into the book of business. Executives are able to see how each line of business, region and individual sales team has performed, which previously would take weeks after the period end once manual reporting was done. They also have access to a leaderboard, which can be configured based on performance indicators and used for coaching.
Mac Thompson, founder and president of White Clay, said, “There’s never been a better time for banks to reevaluate and modernize their pricing strategies. Treasury management solutions can be another avenue for banks to gather deposits and become the primary operating account. As banks look to build and execute their deposit strategy, they should be thinking about effectively pricing both their retail and commercial relationships.”
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