Case Study

Treasury & Payments Technology Modernization

Strategy Technology


Large U.S. Bank and Retail Brokerage


Digital Transformation, Digital Transformation Strategy

Project Overview

The Client had recently abandoned its vendor-developed Treasury Workstation due to connectivity issues and inability to obtain balance information for several key accounts. Management desired to re-implement the Workstation in order to automate cash position reporting and strengthen controls around payment templates and wire processing. The Client sought strategic support from Reference Point (RP) to establish a standardized methodology to connect to each of its banks and replace the use of individual online portals – through an overall treasury and payments technology modernization effort. Reference Point led the implementation of a vendor-developed Treasury Workstation solution, including the establishment of connectivity to the SWIFT network. Efforts included business analysis and project management support to guide the reimplementation of the Treasury Workstation.


  • Reference Point deployed a team led by the former Vice President of Global Treasury Operations at Goldman Sachs to perform a post-mortem assessment of the abandonment of the prior workstation solution and to document the functional requirements for its reimplementation.
  • Reference Point led the contract negotiation and vendor on-boarding processes to ensure that the right resources were available for implementation based on lessons learned from the post-mortem assessment.
  • Additionally, Reference Point served in a project leadership role throughout the implementation, coordinating between the vendor and the Bank’s Treasury and Technology teams to identify and resolve issues and track overall progress against the project plan. Reference Point also led security and user acceptance testing to prepare the Client for go-live.


  • Reference Point subject matter experts recommended that the Bank become a member of the SWIFT network to enable standardized connectivity and messaging with their bank partners, and successfully guided the bank through the process of joining SWIFT.
  • After successful go-live, the Treasury team was able to produce daily cash position reports in a matter of minutes, eliminating hours of manual work each day. Reference Point also suggested several additional reporting enhancements to be explored based on additional functionality available in the Workstation.
  • Overall payments security was strengthened with the use of standardized templates and the robust access controls which were inherent in the Workstation.

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