Track: Treasury Management
Despite being a mature product, lockbox remains an important offering for corporations and is a top five revenue generator for many banks’ cash management groups. But the need for continued investment and attention has landed many financial institutions in a tug-of-war. Ongoing technology upgrades, rising labor costs and customer demands for new receivables services like enhanced, automated remittance matching are making it increasingly difficult to justify the industry’s widely-held preference for in-house operations. This session is designed for financial institutions looking for perspective on outsourcing from industry peers who have been there, done that. Join Senior Vice President Steven Rowinski and Senior Group Manager Joe Wood of Citibank as they share their views on the lockbox industry and how they weighed the risks and rewards of outsourcing.