Onboarding Tracker wins 2020 Impact Innovation Award in Cash Management and Payments

November 18, 2020 | GET MORE : Articles

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Award recognizes innovative financial institutions that have leveraged best-in-class technology

U.S. Bank’s Onboarding Tracker was recently named the “Customer Experience” category winner for the 2020 Impact Innovation Award in cash management and payments by the Aite Group, a global research and advisory firm. In its third year, the awards program honors innovative financial institutions that are introducing new products, capabilities, or levels of automation and effectiveness to move the industry forward. 

Companies have traditionally lacked visibility into how their complex treasury implementations were progressing across the banking industry. U.S. Bank’s Global Treasury Management team responded to this challenge by working directly with customers to develop a digital solution that provides the same kind of transparency for business clients as consumers have come to expect from an online Domino’s pizza order, or a product from Amazon.

Available via the bank’s SinglePoint platform, Onboarding Tracker includes a digital dashboard, collaborative chat and easy document exchange capabilities that can be used by implementation project managers and senior executives enabling all stakeholders to monitor the status of their implementations and resolve problems faster.

“This is really gratifying recognition for us,” said Richard Erario, head of Global Treasury Management for U.S. Bank. “We’ve been laser-focused on two things this year: driving the continued digitization of our solutions for business customers of all sizes and making it easier for our customers to do business with us, and Onboarding Tracker does both. It’s nice to see our efforts validated with this Impact Innovation Award.”

The winners, selected by an eight-person panel that consisted of three Aite Group analysts and five external judges, were judged on the following criteria:

  • Market need 
  • Level of innovation and competitive advantage and new revenue opportunity
  • Impact on customer experience; operational efficiency; customer retention/attraction and scalability
  • Future roadmap

“We welcome the opportunity to recognize and celebrate innovation in the cash management and payments industry,” said Christine Barry, research director at Aite Group. “This year’s been especially challenging with a heightened urgency for enhanced digital capabilities and experiences, greater levels of automation and efficiency, and more informed client engagement.”

U.S. Bank representatives will accept the award via a brief video that will air during the 2020 Innovation in Cash Management & Payments Forum in December.