Massachusetts Bay Transportation Authority selects Reval for treasury management [Press release]
New York – April 11, 2017 – Greater Boston’s public transportation agency, the Massachusetts Bay Transportation Authority (“MBTA”), is automating its treasury management function using Reval, the leading Software as a Service (SaaS) solution for treasury and risk management. The agency will leverage Reval’s cloud-based system to centralize the management of cash and liquidity, payments, and investments and debt.
“We want to move away from spreadsheets to a single system that aggregates all of our information in one place,” says Paul Brandley, Treasurer at the MBTA. “With Reval, we found the platform we needed, but also the right partner to help us smoothly transition from manual processes to automated, straight-through processing of our treasury functions.” MBTA will be creating a centralized, straight-through process to better manage and forecast cash on hand, track investments and debt, and initiate payments, automatically.
“MBTA is setting the standard for other municipal agencies who want to get out from under the mundane, manual tasks that steal precious time away from treasury teams,” says Jason Torgler, Senior Vice President, Reval, in North America. “We’re happy to count MBTA as the newest member of Reval’s community of users.”
The MBTA is the oldest and fifth largest transit system in the country, operating subway, trackless trolley, trolley, bus, water ferry, and commuter rail service throughout eastern Massachusetts. The Authority and its 6,500 employees are responsible for an estimated 1.3 million passenger trips every business day and operate over 46 miles of rapid transit rail routes.
About ION Treasury
ION Treasury is the largest provider of treasury and risk management solutions in the world. Its solutions are designed to meet the needs of organizations with varying complexities and at different stages of technology adoption. With over 1,250 clients in more than 30 countries, ION Treasury is also a powerful community shaping the global treasury landscape. ION Treasury is a division of ION, which dedicates over 40% of its employee base to product innovation. It is the only corporate treasury provider that has the financial strength, breadth of products, and commitment to continuous innovation to deliver on treasury’s diverse and changing technology needs. ION Treasury’s portfolio of leading treasury products includes Wallstreet Suite, Reval, IT2, ITS, City Financials and Treasura, as well as innovative tools and services that span across the entire solution set. For more information, contact [email protected].
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ION Group provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their business for sustained success through continuous innovation. For more information, visit https://iongroup.com/.
About ION Treasury
ION Treasury delivers unique treasury and risk management solutions to organizations of all sizes, offering both on-premises and cloud options. Our award-winning solutions help manage liquidity and mitigate operational, financial, and reputational risk. Together with a global community of over 1,100 clients, we are shaping the future of treasury and risk management technology. For more information, visit https://iongroup.com/treasury/.