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      For Your Business March 20, 2025

      Emerging Trends in Treasury Management

      By Tim Hadley, Senior Vice President & Director of Treasury Management Products

      What We’re Seeing

      The world of Treasury and Payments is an ever-evolving landscape, with technology driving change more and more each year. In addition to traditional providers of these services – banks and other financial institutions – there is an emerging class of start-up financial technology (“fintechs”) providers who are targeting specific industries or niche use cases. Some technologies that are becoming more accessible across different business sizes include:

      • Integration into Accounting Programs: With accounting and enterprise resource planning software moving into the cloud, connectivity to other systems – including banks – is becoming more available than ever before.
      • Payments are Getting Faster: Checks, ACH, wires, and cards have been the standard set of payment types for decades. Newer payment channels like RTP, FedNow, and Zelle give businesses and consumers additional ways to send and receive money.
      • Data is King: Banks receive a large amount of data alongside inbound payments. This data can be used to simplify the application of payments to accounts, speeding up cash application and reducing errors in the posting process.

      While this creates a lot of possibilities for businesses of all sizes, the sheer volume of options and pace of change can be difficult to sift through to find the right fit. Here are a few tips for choosing the right solution:

      3 Steps to Choosing the Right Solution for Your Business

      1. Set Your “What” and “Why” First: Know what you’re trying to do better than you are today. By defining what you’re trying to solve for, you will get better answers and be less likely to get caught up in marketing hype.

      2. Start with Your Primary Financial Institution: Banks are partnering with financial technology companies and building new solutions all the time. See if your current banking partner can help solve your issue first before going out to new vendors.

      3. Do Your Due Diligence: If your financial institution doesn’t have an off-the-shelf solution that meets your needs, start shopping for fintech solutions in the market. Before you commit to a particular solution – regardless of what the fintech provider tells you – be sure to talk to your bank about connectivity and compatibility with any solution you may want to connect to your banking software. The fintech provider may oversell how they connect to your bank, which can lead to frustration, delays, and added costs.

      What We’re Working On

      Old National is actively working to add new features and services to help your business keep up with the pace of change. Later in 2025, we will have available these new solutions*:

      • API Banking: Connect your accounting or ERP solution to Old National to automatically receive a feed of your balance and transaction history.
      • Integrated Payables: Transmit a mixed payments file to Old National by upload, secure file transmission (SFTP), or API connection – simplifying your outbound payment creation processes.
      • Integrated Receivables: Aggregate your inbound payments and their accompanying data into a single data source, matching inbound items to your outstanding invoices to save time and speed up your posting processes.

      Stay connected with your Old National Treasury Management Consultant for new ways we can help you operate your business more efficiently by leveraging our convenient solutions.

      * Timeline is projected at the time of the publication of this article and may be subject to change.

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