Upgrades are Coming in 2020!
We are improving our banking processes to increase efficiency and ease for employees, departments, vendors, and the public. For in-person branch banking, we plan to offer a suite of convenient options. For banking services that you can complete from the office, we will help you migrate those functions to a J.P. Morgan Chase platform.
How to Prepare:
In order to ensure your team is ready for updates to banking services, we suggest:
- Determining who on your team will serve as a project lead, and who should receive communication from OST (Subscribe below!)
- Taking an inventory of your current banking service usage
- Identifying all bank accounts associated with your department
- Understand any processes that require your team to access a bank in-person
- Finally, reach out to our team before you begin any new financial service relationship. We may be planning to implement a similar product!
This page will be frequently updated throughout implementation.
October 7, 2019 Email Distribution
Overview of Upgrades
- Reporting through one platform
- Straight-through processing
- Reduces file transmissions
- Decreased trips to physical bank branches and to OST
- Simplified reconciliation
- Reduces manual adjustments
- Reduced fraud targets from check and cash transactions
- Improved client reporting
- Enhanced cyber-security and controls
- Robust system administration
- Improved bank relationship management
- Enhanced customer service for your agency, vendors, and the public
- Continuous improvement and innovation
- Additional user training and education
- Transition to cheaper digital methods
- Decreased spending on transaction costs
- Leverages collective purchasing and creates economies of scale
- Enhanced ECR and interest on deposits
Banking Services Implementation Manager