JTC has been recognised at the Digital Jersey Tech Awards, sponsored by Jersey Finance, for its collaboration with BankClarity, which won the ‘Best Use of Technology in Finance’ category.
The win focussed on the successful delivery of a single banking payments platform, resulting in up to 75% reduction in payment-processing times and up to 90% reduction in error rates. The centralised banking and treasury hub is integrated with all core banks and the internal bookkeeping solution, all deployed securely within JTC’s network and designed with the scalability to deploy across 1,100 employees located in 23 jurisdictions and support future growth aspirations.
Mark Fleming, Senior Director, Private Client Services at JTC said:
“The day jobs of the members of our teams have transformed: we now focus on one platform for all payments and banking activities, which has created additional capacity to provide real value-add services to clients. We now have a simple, clear, digital authorisation process to follow with all the information and evidence in one specific area for us to review. This means that we can now speak with so much more confidence to our clients on banking matters, have more up to date information and be more transparent about the payments process.”
Also commenting on the win, Adam Jeffries, Group Chief Information Officer for JTC added:
“At JTC, we have a real focus on implementing smart digital solutions to enable our skilled workforce. For many years the strategy at JTC has been to work with what we see as best in class software vendors and form strong partnerships with them. We’ve partnered with BankClarity for over three years now, have excellent relationships in place with them across many areas of our business and they remain part of our ongoing strategic planning.”
Aidan McAvinue – Chief Executive at BankClarity concluded:
“The BankClarity team have been blown away by the energy and focus of the JTC teams throughout this incredibly ambitious project – it is rare to encounter such a large business willing to empower their teams to engage and innovate with a provider in this manner. The result, recognised by this award, is in our view class-leading; a highly scalable, sustainable banking and treasury hub within JTC’s secure infrastructure which exemplifies the intelligent use of technology in a complex, non-bank financial services environment.”