Hunt Companies, Inc. received Gold at the Treasury Innovation National Symposium (TINS) hosted by the Treasury Management Association of New York in conjunction with 10 other regional AFP chapters for their innovative Application Programming Interface (API) "Real Time Everything" Treasury project. The project’s goal was to implement APIs between Hunt’s existing systems and their banks wherever possible to increase efficiency and transaction speed.
The project, managed by David Miller, Senior Vice President and Treasurer of Hunt Companies, implemented bank connectivity APIs to pioneer Real-Time Payments (RTP) with JP Morgan Chase and Bank of America, with the support of the Kyriba TMS platform. Joining Hunt in recognition at TINS were Bristol Myers Squibb who received silver and TechnipFMC who received bronze.
Implementing APIs allowed Hunt to reduce costs, deliver immediate notification of payment delivery and simplify payment visibility and reconciliation across the company’s 750 bank accounts across 35 banks. RTP adoption reduced payment costs from an average of $6 per wire to an average payment cost of $1 per RTP.
“We are honored to receive Gold from the Treasury Innovation National Symposium team in recognition of our Real Time Everything project that allowed us to further optimize our cash management operations,” said Miller. “This is an excellent recognition of our team’s ability to create a vision using technology to create more cost-effective and efficient solutions for our business. Our team is committed to using the latest technology to help us work smarter and we hope to develop more creative strategies in the future.”
Miller presented an overview of the project, in partnership with Bob Stark, global head of market strategy for Kyriba, at the annual Treasury Innovation National Symposium.
“Kyriba is proud to support Hunt Companies as they pioneer the digital transformation of treasury in real-time,” said Stark. “As finance teams consume greater amounts of data, it is imperative that treasury can proactively make cash and liquidity decisions at machine speed.”
About Hunt Companies, Inc.
Hunt, based in El Paso, Texas, is a diversified, family-owned holding company that invests in operating businesses, real estate assets and infrastructure assets. Since its founding in 1947, Hunt's size and scope have grown substantially while gaining considerable expertise across multiple real asset sectors. Hunt's reputation is built on integrity and performance. Hunt is committed to a culture of transparency for employees, clients, investors, and the communities it serves. Hunt and its affiliates employ more than 4,300 people across the United States and Europe. Learn more at www.huntcompanies.com.
