At Manchester Digital, we like to interview our members to find out a bit more about what they do and their work in the Greater Manchester digital and technology sphere. This week, we're speaking with Padraig Brosnan, CEO of Treasury Delta.
Please tell us a bit about Treasury Delta, and what inspired you to create a digital platform to help companies and banks carry out tender projects in a more efficient way?
At Treasury Delta, we’ve created a marketplace platform to help both the buy and sell-side carry out banking and treasury tender projects in a faster and more cost-effective way. On the buy-side, Treasury Delta makes it easier for companies and/or their advisors, to seek out an optimal solution(s) to their banking/treasury needs. For the sell-side, the platform acts as a digital lead generation solution, offering preselected banks and treasury technology vendors the opportunity to quote for new business.
The inspiration behind the innovation stems from my own personal banking and corporate treasury experience, where tender projects were carried out manually, went on for months and months and were full of friction and pain points.
How does your platform help companies save time and money when they are looking for new banking and technology products and solutions from the marketplace?
The platform has a more structured process with a very clear customer journey. This makes it easier for companies to complete the relevant information, depending on their banking/treasury need, whilst having a direct channel to the relevant banks/treasury technology vendors via the platform. By simplifying the process, it saves the buy-side significant time and hassle.
What kind of organisations get the most value from Treasury Delta’s platform - and what’s your rationale for engaging with SMEs?
To date, we’ve focused on large corporates who have multiple bank accounts in several jurisdictions, who are eager to consolidate their banking and treasury departments into a more centralised function. This allows them to manage a leaner finance model, reduce operating costs and maximise returns on the organisation’s overall cash balances. These principles can be deployed to small and mid-sized corporates, and SMEs, so that their organisation strives to have a best-in-class finance function. By collaborating with these client bases, Treasury Delta’s platform can assist them achieve these objectives and support them on their growth journey.
You’re keen to grow your presence in Manchester – what opportunities do you see here, and what kind of relationships do you expect to build?
Manchester is recognised as the second-biggest fintech hub in the UK, and is continuing to attract major tech companies and financial services firms, so it’s a perfect match to propel Treasury Delta. Using digital technology, our core theme is industry collaboration between the buy and sell-side, when it comes to business banking and corporate treasury tender transactions.
Over the last few years, we’ve developed positive relationships with the main UK banks, so our focus now shifts to marketing our services to the buy-side, so that both sides of the platform can transact in the most efficient and cost-effective way when it comes to a banking/treasury tender.
From your perspective, how is technology changing the way companies and banks engage with each other?
This is evolving at a very fast pace, particularly on the sell-side where banks and treasury technology vendors are collaborating and investing very heavily into their products and R&D. This will continue given the potential of AI and machine learning where more and more day-to-day manual tasks become automated. Companies want to embrace these innovations, so that they can drive down their operational costs and focus on value adds for their business. This will be a continuous journey for companies as their organisations grow, and more and more technological advancements get rolled out by the sell-side.
Finally, what’s next for Treasury Delta as you expand your reach across the UK?
Now that we have a base here in Manchester, our immediate focus is to promote and market our service offering to the buy-side and strategic channel partners, so that we work towards developing long-term relationships across this region. As we grow the business, we will need to increase our investment into our technology and marketing spend, so that we can capitalise on the market opportunity across the UK, and further afield, as our business model is very scalable.
Thank you Padraig!
Click here to find out more about Treasury Delta.
