Strengthening Customer Loyalty Through Client-Centric Treasury Management Practices

Nacha’s Smarter Faster Payments 2024 conference took place in Miami, Florida from May 6-9. During the conference, FISPAN’s founder and CEO, Lisa Shields, spoke on a panel alongside Bo Tavárez, TMO at City National Bank, Rosetta Rayojan, Product Lead at City National Bank, and Shannon Pagnucco, Controller at Nederlander Organization.

The panel discussion, titled "Increasing Payables Automation in the Middle-Market Business and Corporate Banking Environment", delved into the growing need for streamlined payables experiences in response to companies yearning for solutions that allow them to overcome the confines of manual processes. The discussion was supplemented by firsthand insights from a client that implemented FISPAN’s solution to address pain points related to check fraud and the double signing of checks.

In this case study, we examine the key insights gathered during the panel - with a focus on Bo Tavárez’s approach to integrating technical solutions for his clients. We explore how his approach enhances client experiences and uncover the importance of integrating technology and sales prowess in successful modern banking practices.


Bo Tavárez: Team Lead, Treasury Management

Bo Tavárez, a seasoned leader in treasury management with over 12 years of experience in the banking industry, joined CNB in 2019. His rapid ascent to a Vice President position at CNB reflects his expertise and leadership skills in overseeing a sales representative team based in LA. 

Bo and his Treasury Management team focus on CNB’s entertainment vertical which includes production and film/television lending segments for clients such as Paramount and Universal. Bo’s team also serves major business management firms in the talent fields of acting, music, and athletics. 


Championing Financial Solutions

Bo is committed to introducing clients to innovative tools and integration solutions that streamline their operations and save them time and money. He champions City National Bank EASI Link® Connector, the embedded CNB solution powered by FISPAN. This embedded solution brings CNB’s financial services directly into their clients’ ERP systems. It provides clients with enhanced visibility and control over their balances and transactions, enabling them to manage payments directly within their ERP without logging into their banking portal. 

The connector brings substantial time-saving benefits for clients, with approximately 560 hours of work saved per client per year, alongside a 37% reduction in manual processes, and increased efficiency for AP teams.*


Identifying Client Pain Points

At CNB, Bo’s approach prioritizes building relationships and engaging in meaningful conversations to uncover his clients' pain points. By delving into the inefficiencies and challenges faced by clients, Bo identifies opportunities to introduce tailored banking solutions that address their specific needs.

During the panel discussion, Bo explained how he introduces the EASI Link® Connector as a solution to address specific pain points experienced by clients, using the Nederander Organization as an example to illustrate his points.

Nederlander: Automation & Fraud Prevention

The Nederlander Organization, a prominent American entertainment company specializing in theatre production and venue management, faced similar challenges relating to the inconvenience of double-signing checks. A limitation in personnel available to double-sign checks was exacerbated by COVID restrictions that made office visits difficult. 

Upon identification of these pain points, Bo introduced the EASI Link® Connector as a solution. After a demonstration showcasing the Connector's benefits, their Controller, Shannon Pagnucco, recognized the opportunity for process improvement and eagerly adopted it. Shannon shared how she now values the Connector for its efficiency, automation, and ease of use. With an increase in remote working across the company, Shannon can streamline the process related to the evolution of a check, and ensure all relevant personnel are involved across different locations.

The embedded solution facilitated an easy transition to new processes for Shannon and her team. Now, she utilizes the connector not only for managing checks but also for ACH payments. The ACH payment functionality provided by the Connector solved an additional issue related to fraud through stolen checks, following an incident where mail was stolen from the post office. She appreciates the ease, reliability, and security of ACH payments facilitated by the Connector, leading to more frequent use of this payment method.


Bo's Client-Centric Approach: Delivering Efficiency and Driving Loyalty

Bo's dedication to delivering innovative solutions to his clients shines through. He doesn't just offer products; he sparks curiosity about how these solutions can seamlessly integrate into his clients' operations, bringing efficiency and savings. Through industry insights, success stories, and contextual statistics, Bo paints a vivid picture of the transformative impact his solutions can have.

Bo recognizes that offering improved solutions and services to his clients both enhances client satisfaction and nurtures loyalty. Integrating financial services into his client’s ERP’s and business operations software not only draws more businesses to the bank but also builds trust and fosters loyalty. The numbers speak volumes, demonstrating a 30-50% increase in transaction volume and a 20-50% rise in client deposits.

In the ever-evolving financial landscape, where leading organizations increasingly demand streamlined processes and innovative solutions, Bo Tavárez’s client-centric approach stands out. Through his leadership at City National Bank and his commitment to delivering efficiency and driving loyalty, Bo has not only transformed the experiences of his clients but has also acted as a catalyst, empowering them to unlock newfound efficiency and time-saving benefits.


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