Insurance companies carry out thousands of banking transactions every day: premium collection, claims settlements, financial investments, supplier payments, and more. These massive flows inevitably generate banking fees. However, despite negotiated fee agreements with their banks, the reality shows a significant gap between the budgeted amount and the fees actually charged.
A “layer cake” of bank fees
Behind a negotiated pricing structure, the costs are broken down into a multitude of components:
Each bank applies its own logic, with often inconsistent reporting (statements, account administration, lifecycle, PDF spreadsheets).
The result: a complex web of micro-bills impossible to consolidate without considerable effort.
The limitations of manual control
Historically, treasury or accounting teams have attempted to verify expenses after the fact, by manipulating bank files and spreadsheets.
However, this approach is time-consuming, incomplete (often limited in practice to samples), and ultimately unreliable given the complexity of contracts.
Automation as an answer
An automated bank fee control module is a true game-changer. First, it centralizes data through the standardization and automatic collection of camt.086 files and other bank reports.
Second, it
Discrepancies are immediately detected, additional costs are calculated and clearly reported to the finance teams.
Finally, this system offers a consolidated view of fees by bank, by type and over time, which constitutes a powerful lever for effectively managing and renegotiating banking conditions.
A strategic issue for insurers
In a context of margin pressure, insurance companies can no longer afford uncontrolled increases in their bank fees.
At to a proactive : NEOFI Bank Fees NEOFI Cash treasury management solution , and enables automatic control of your bank fees.
This combination puts an end to a recurring problem by offering complete visibility, rigorous control and true mastery of banking costs.
"Stop being a victim of your bank fees, take control of them with NEOFI"
