RBC Royal Bank
Presentation to:
Eastern Ontario
Treasurer’s
Association
August 22, 2o14
Sam Romano, CTP,
Treasury Solutions
Specialist, Public Sector,
Ontario
Thoughts on
what’s new &
current best
practices.
What We’ll Cover…….
•
Doing more with less – a common theme
What FI’s are working on – Emerging
capabilities
•
“Traditional” collections processes – best
practices
•
•
Opportunities to collaborate
Eastern Ontario Treasurer’s Association
Mobile & Emerging Payments
Eastern Ontario Treasurer’s Association
It’s a
jungle
out
there!
Mobile & Emerging Payments
•
Adoption rates will continue to escalate
FI’s remain a crucial participant in most emerging & mobile
payment applications
•
Eastern Ontario Treasurer’s Association
Mobile & Emerging Payments
Eastern Ontario Treasurer’s Association
Mobile & Emerging Payments
Things to think about…..
Many emerging payment options are “front ends” to existing bank
systems (ACH)
•
•
Technology is often simply means to the same end
•
Take the time to fully understand:
Payment flow
Settlement characteristics and location of funds
Fee structure
Eastern Ontario Treasurer’s Association
Tax Bill Printing & Lockbox
•
Tax bill content standardized 2001
•
Remittance Portion (stub) not
standardized
•
Print/mail costs largely driven by
volumes
•
Declining cheque volumes in lockbox
Down 14% 2008-2011 (CPA stat 2012)
•
But cheques won’t disappear…
Association has an opportunity to
collaborate with service providers:
Print shops, ERP’s, Lockbox
operators and FI’s
Internet Banking
•
Very popular among taxpayers
•
Cost effective
•
Annual volume growth ~5%
Internet Banking
•
Best practice: prevent unpostable items before they arrive!
•
Add “edits” to your roll number or account number system
If unpostables a big problem, FI’s can “scrub” or delete roll #
database
•
Eastern Ontario Treasurer’s Association
Internet Banking
•
Your internet banking portal can be used for
other payments:
Animal services
Rec centre fees
Parking permits/tickets etc…
•
Use your customer (roll #) to differentiate
payment types
Eastern Ontario Treasurer’s Association
Internet Banking
•
FI’s have expanded their payment reporting options
•
EDI no longer the only file option - easy CSV or flat
files now common
Some FI’s offer reporting tools such as software
packages
•
•
Real opportunity for payments integration
•
Straight-Through-Processing
Eastern Ontario Treasurer’s Association
Remote Deposit Capture
Eastern Ontario Treasurer’s Association
Remote Deposit Capture
•
What is it?
Eastern Ontario Treasurer’s Association
Remote Deposit Capture
Eastern Ontario Treasurer’s Association
Remote Deposit Capture
•
What is it?
On the radar of most Canadian FI’s – USA
doing it for years
•
•
Rollout to customers will be staged
•
Potential positive impact on Town Office
processes
•
Not a replacement for lockbox (no remittance
scan)
•
Smart phone photo – send to bank
Eastern Ontario Treasurer’s Association
Some Final Thoughts …….
Gov’t bodies promoting use of more electronic
payments (CRA)
•
Eastern Ontario Treasurer’s Association