HOUSTON, Feb. 6, 2019 /PRNewswire/ -- BBVA Compass's (BBVA) Treasury Management team realized significant milestones in 2018. Global Finance magazine, and the experts it surveyed, recently took notice as the publication named the bank as the Top Treasury and Cash Management Provider in the Southwest for 2019.
BBVA Compass was recognized for the annual award from Global Finance for its customer service, competitive pricing, product innovation and the extent to which the bank differentiated itself from competitors. The bank won the Southwest award in the category of Best US Regional Middle Market providers.
"Given the criteria used, I can't help but think about the amazing advances our Treasury Management team made this year that ultimately contributed to this award," said BBVA Compass Chief Operating Officer Rafael Bustillo. "The team always looks for ways to innovate and consistently looks at their role in the financial industry in new ways. This year, they took our digital capabilities a step further, and I'm pleased that they were recognized for their efforts by Global Finance."
Bustillo specifically pointed the bank's launch of its BBVA Compass RealTime ARP™ and BBVA Compass RealTime Positive Pay™ services that it launched this past summer. The digital products were groundbreaking in the financial industry's ongoing digital transformation, making BBVA Compass the first U.S. bank to offer true real-time Positive Pay fraud prevention and ARP reconciliation.
Positive Pay is a proactive fraud prevention product that alerts businesses to potential fraudulent transactions on their check or electronic payments. ARP services automate the check reconciliation process and provide reporting capability for processing account data.
"BBVA Compass places an emphasis on being ahead of the curve in the financial industry's digital revolution, and these products embody that way of thinking," said BBVA Compass Director of Multi-Channel Development Gabriel Palafox. "These products are capable of completely changing the way back-office operations function."
Simultaneously, the bank launched BBVA Compass net cash™, an updated treasury management portal that helps clients manage their company's cash position and banking transactions. The portal is the point of access for the bank's RealTime Positive Pay and RealTime ARP products.
The portal also facilitates the payment initiation process, allowing clients to create multiple payments types on both a one-time and recurring basis from a single screen with only a few clicks. Clients can define specific user permissions, ensuring security in creating and approving payments.
"When it comes to online banking in a competitive digital environment, easy, secure access and streamlined functionality are key," said Director of eBanking Channels for Corporate & Commercial Banking Margaret MacLeod. "BBVA Compass net cash epitomizes these attributes. The system makes it easy for customers to perform any task with only a few clicks, with clear, user-friendly terminology and intuitive navigation, and they can access the platform anytime, anywhere."
Global Finance Award
This is the nineteenth year of Global Finance's annual rankings of Best Treasury and Cash Management Banks and Providers. The publication recognizes financial institutions by category, region and country.
In the U.S., Global Finance selects top financial institutions in its Best US Regional Middle Market Providers category. Regions in this category include the northeast, mid-atlantic, midwest, west, southeast and southwest.
Criteria to select winners includes input from industry analysts, corporate executives, technology experts and independent research.
"At a time when the near- and mid-term trajectory of the world's economy is very uncertain, corporate financial teams need to access complex timely data," said Joseph D. Giarraputo, publisher and editorial director of Global Finance. "Our Treasury & Cash Management Awards point to the financial institutions that deliver both on quantity of data and quality of their insight into global trends."
In addition to BBVA Compass's recognition, the BBVA Group saw other Global Finance treasury and cash management award selections in its global footprint, including best provider in Spain, Colombia and Venezuela.
Global Finance, founded in 1987, has a circulation of 50,050 and readers in 188 countries. Click here for more information on the publication's award ceremony, criteria and a full list of winners from across the globe.
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