Treasury consultancy and treasury IT solution specialist Treamo Busi-ness Consulting today launches its new service – banktory.com. This innovative search engine enables users to search for the local offices and representatives of multiple banking groups by city, country, region or continent. The search results are displayed either on interactive maps or as lists. The main target group for banktory.com is personnel working in the area of corporate fi-nance.
The fundamental idea behind banktory.com is based on the fact that financial officers in globally active corporates frequently need to identify globally active, as well as locally present, banking partners. This needs to be combined with the aim of keeping the banking relationships of a corporate group as lean as possible. Financial officers therefore often want to know which services are provided by specific banks in a certain location. Online research usually leads to unsatisfactory results, particularly in terms of comparability.
It is this gap that banktory.com aims to close. Numerous discussions with financial officers ahead of the launch confirmed the need for such a service, even if the banks themselves often claim that personnel in corporate finance and treasury do not use the internet as a source of information or for research purposes. “If you look at the banks’ websites in detail, the impressions we got during our discussions become even clearer. With very few exceptions, searching for local offices and branches of banks is far from simple as they are usually organised without any obvious logic and are very specific to the location. There is little or no information about products and services offered locally and very often not even contact details are provided. One of the world’s largest banks only provides details on its own website of where it is present in the form of dots on a map found under the menu option Careers,” explains Martin Sadleder, Managing Director of Treamo.
Based on his 20 years of experience as a consultant and trainer, Sadleder knows that the ideas which banks hold about the possible needs and requirements of corporate customers and reality frequently differ considerably. “Through our analysis of banks’ websites, we got the impression that in many cases banks simply fail to address the needs of their target customers, particularly in the corporate customer segment. Uncoordinated social media strategies, redundant information and market data make up most of the websites' contents,” is how Sadleder summarises the current situation.
Integrated communication platform
“Some banks have become such complex structures that often their own employees hardly know where the bank is represented and how to find the right contact person for specific questions. It is even more difficult for potential customers,” says Sadleder, who is convinced that banktory.com will be warmly welcomed by the treasury community. The site will soon offer the opportunity to rate banks and their services. “This is less about having a chance to let off steam, which we will control as forum moderators, it’s more about having the opportunity to provide positive feedback on particular services and to highlight products, e.g. in the area of hedging. This could also help banks to win new business. However, in particular it will serve as a forum for users to help each other – by means of anonymously (for as long as this is wanted) giving and receiving tips and sharing experience – that is the main focus of banktory.com.”
Upcoming new feature: Products & Services Grid banktory.com will be continuously expanded and extended after the launch. Sadleder: “We already have detailed concepts about how we aim to further develop banktory.com, and a number of add-on features are already to go live. In the near future, we aim to add the so-called Products and Services Grid, which will allow users to search not only for banks but also specifically for products and services offered by these banks. This is of course dependent on support from the banks with which we are currently in discussions. Initially, the aim is to introduce users to the potential offered by banktory.com, for them to make use of the site and to input their ideas,” says Sadleder looking forward to the future development of the platform.
Free online service
Even without the Products & Services Grid, banktory.com is still a novel service which encompasses most of the top 100 global banks and their international subsidiaries (2,500 at present). The use of banktory.com is free of charge and will also remain so for users in the future. The application and infrastructure are provided by Treamo. Use of the site is subject only to a simple registration process.