Baird Wins Award for Payments API Innovation

Chicago – April 26, 2019 – Baird, an international financial services firm with $211 billion in client assets, was recognized this week with a silver Alexander Hamilton Award for API-enabled payments posting, which it collaborated on with Ripple Treasury, provider of a SaaS platform for integrated cash management and risk management. The project is profiled in Treasury & Risk magazine, which also presented Baird with the award in a webcast on April 24.

“Having really good collaboration with the vendor makes or breaks a project like this,” Huse says in the Treasury & Risk profile. “It’s very important to challenge the norms. Treasury needs to think creatively and partner with internal colleagues and internal clients to come up with ideas for better treasury solutions, and then find a vendor that will help bring those ideas to fruition.” Baird built a hosted, external facing API server and collaborated with Ripple Treasury to integrate an API-enabled transaction assignment and posting engine for automated reconciliation matching. Because Ripple Treasury is a multitenant SaaS treasury management system (TMS), this functionality is now available to all Ripple Treasury clients.

“Baird exemplifies the kind of innovative thinking by corporates who are leveraging new technologies that are available today,” says Roger Comins, Senior Product Manager at Ripple Treasury. Comins, who is responsible for Ripple Treasury's Payment Factory and Partner Ecosystem solutions, opened the award webcast with an overview of innovative technologies and how they can be applied by corporates.

“We work in a real-time environment, with wires coming in throughout the day,” explains Baird Director of Client Reporting Steve Huse in the firm’s Treasury and Risk profile. “These payments are very time-sensitive—they might meet a margin call or fund an imminent purchase.” An automated receivables-posting process now allows Baird to better service clients while saving time and reducing risk. “We have more time to spend on value-added tasks like reporting and forecasting,” Huse comments.

Treasury and Risk also reports that “Baird didn’t find any SaaS-based treasury systems that provided these types of connections. However, a thorough due diligence process revealed that Ripple Treasury was interested in accommodating the company’s needs. The vendor provided a proof of concept to demonstrate how the system could work, and Baird decided to move forward.”

To find out more about Ripple Treasury, please visit https://www.treasury.ripple.com or email Marketing@ripple.com.

About Ripple Treasury

Ripple Treasury is a digital TMS platform that gives organizations cloud access to integrated treasury and risk management solutions.  Its design leverages new technologies to connect treasury’s ecosystem, enabling the seamless flow of data across and beyond the enterprise for new and smarter ways of working.  With Ripple Treasury, organizations can implement any combination of integrated Cash Management, Payments, Financial Instruments, Accounting, Banking, Risk Management, and Hedge Accounting in one SaaS solution.  Ripple Treasury is headquartered in Chicago, with offices in North America, EMEA and APAC.

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