Comerica Inc. has rebranded and plans to upgrade its online cash management systems this year, an executive says.
The Detroit banking company has adopted a single brand, Comerica Treasury Management Connect, for its online, desktop, and financial messaging systems, as well as its small-business banking system.
The systems previously were known variously as Comerica NetVision, Comerica Gateway, Comerica NGT (for Next Generation Treasury), and Web Banking for Small Business.
"The products developed independently of each other," said Daniel J. McCarty, Comerica's senior vice president of treasury management services. "The names mean virtually nothing to the customer. It's all treasury management."
Comerica announced the change at the end of last month. Mr. McCarty said his company plans a series of upgrades over the next year, such as giving corporate users a single log-in capability for multiple applications.
Other upgrades will include making more information about images available on business banking systems, near-real-time reporting on commercial loan and balance activity, more flexibility for corporate treasurers to administer employee access, and heightened security, he said.
Comerica does not have to upgrade the cash management software on corporate customers' computers, since much of the work is now done on Web-based systems, Mr. McCarty said. However, the company will continue to support and upgrade the desktop software, because it is still used by "a nice set of customers."
The desktop system is well-suited for small companies that need to manipulate financial data but may lack in-house systems to manage accounts receivable or to close the monthly books, he said. "It's a very solid revenue stream for us. It's very worthy of the development and support we give to it."
