Managing multiple bank relationships and signatory data is a never-ending and tedious task for the treasury departments of large organizations.
For multi-national companies and those with de-centralized treasuries, bank account management is even more difficult.
Loose controls expose an organization to fraud, lost or trapped deposits, inefficient operations and significant compliance risks.
The proper solution streamlines the account management process for enhanced control and transparency, while all account-related data are readily accessible and easily reported on.
Weiland BAweb™ satisfies a core component of any mid- to large-sized company’s compliance strategy.
Weiland BAweb™ offers a fully customizable business process control feature that guides treasury departments through account openings, modifications and closings quickly and easily, mitigating fraud risk, increasing productivity and ensuring compliance.
Weiland BAweb stores all bank-related data in one web-accessible database and manages your entire inventory of bank accounts and their relationships to your operations. This enables constant monitoring of accounts and account authorizations, ensuring compliance with regulations and auditors.
Weiland BAweb systematically relates bank accounts, funding relationships, signatories, signing mandates and authorities with each of your organization’s business units.
The Business Process Management module in conjunction with fully customizable security and audit tools allow you to establish solid proactive and reactive controls around all your bank and account relationships. The Electronic Bank Account Management (eBAM) feature standardizes bank account management communications with all of your financial institutions, allowing for full automation of processes, closing gaps between a company and its banking partners.
Weiland BAweb™ is the first solution to successfully incorporate the full SWIFT eBAM standard, allowing global, secure communications to the thousands of financial institutions on the global SWIFT network.
As a comprehensive solution, Weiland BAweb delivers multiple benefits.
- Increases productivity, accuracy and control by using the eBAM standard to open, modify and close accounts
- Bridges the significant control gap that exists between your organization’s account records and your banks’ records
- Rules-based Business Process Management customizes each account’s open, modify and close process
- Automated control of all bank, account and signatory data consolidated in a web-accessible database streamlines processes and enhances efficiencies
- Graphically displayed account relationships facilitate quicker and easier understanding
- Enhanced security mitigates the chance of fraud and increases compliance
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Weiland BAweb™ brochure. More information about Weiland BAweb is available by contacting Open Solutions at 860-652-3155 or toll-free at 800-226-5674.