From the September/October 2012 issue of Treasury & Risk magazine

Bronze AHA Winner in Cash Management

Off-the-Shelf Treasury Overhaul: Visa

Visa’s 2008 IPO set in motion a treasury overhaul that shrank the credit card provider’s operating banks by 80%, halved the number of local bank accounts the company needed, reduced its unproductive cash buffer by 60% and improved its investment and foreign exchange execution, saving more than $11 million annually. Corporate treasury operations at Visa span 100 legal entities in 38 different countries. 

Technology played a big role. “We designed a comprehensive solution using only off-the-shelf software that fully integrates all cash and investment management functions in a completely automated straight-through processing platform,” says senior business leader Chris Salmon. “Our hub-and-spoke architecture connects our three global banks through cash management and foreign exchange software that feeds our GL system. It’s a centralized, automated cash management system that can deliver just-in-time funding anywhere in the world, in local currency at wholesale pricing. It’s completely redundant and provides auto-reconciliation and booking. We think this is the next step for multinational organizations as treasury software evolves from bank portals to workstations to universal access.”


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