Community Banking Case Study Series Part 5 – The Gold Standard
The phrase “Gold Standard” refers to the actual exchange of currency for gold, guaranteeing its value; any Gold Standard item has thus been used to refer to a benchmark of the highest quality. Guaranteeing value and a benchmark of the highest quality – this is our mission at ArtisPay. Let’s extrapolate the meaning of Gold Standard and see how it applies in this case study series.
In this case study series, we have explored use-cases spanning a bank and three bank clients. In each use-case, we showed how all three parties – the bank, the bank’s clients, and the clients’ suppliers – realized real value from an ArtisPay Supply Chain Finance program. The banks engaged an innovative treasury management tool that increased their fee income, client retention, client satisfaction, marketing to vendors, etc. The bank clients all experienced decreased payment costs, reduced manual processes, more time and cash on hand and less administrative burden. The suppliers received access to their cash previously trapped in A/R and assumed control of their invoices. The value to each of these participants in an ArtisPay Supply Chain Finance program is obvious.
Other successful applications, not addressed in these cases, include revenue-sharing fee income (A/P becomes a profit center) and unlocking the ability to finance difficult industries such as construction and agriculture. What ArtisPay offers banks and lenders is a product that adds value not only to their businesses but to the businesses of their clients and their clients’ suppliers.
This is our continuous pursuit. We have passed risk assessments, vendor management programs, RFP’s, etc. ArtisPay has been poked and prodded, analyzed, examined and thoroughly inspected. Time and time again, after months of vetting, marketplace research and competitor comparison, we have been honored to be selected by our clients.
While we know we have a quality product, we know that we can always do better. Kaizen is the Sino-Japanese word for “improvement”. In business, kaizen refers to the continuous improvement of all functions. This is a simple yet powerful philosophy which has been adopted in healthcare, psychotherapy, government, banking and many more areas. It’s followed by those that want to offer the highest quality goods and services and that realize this is a perpetual pursuit. Kaizen is in the ArtisPay DNA – we seek to continuously improve our products and services to ensure that they are of the highest quality to continue to meet and exceed the expectations of our clients and their clients.
Is calling yourself the new Gold Standard in banking unabashedly cliched? Yes. Does ArtisPay bring real value to banks, their clients and their client’s suppliers? Yes. Is ArtisPay of the highest quality? We strive to be. Are we the New Gold Standard – you be the judge.
A founder of Artis Trade Systems, Jamie Clemons, CPA, started his career working in business risk consulting at Protiviti after attending the University of Arizona on an academic scholarship where he graduated Summa Cum Laude with dual degrees in Finance and Accounting. During his time in consulting, Jamie served clients in various industries including Airline, Banking, Software, Pharmaceutical, and Education among others.