Case Study: General Electric achieves streamlined multibank e‑statement collection and US$1.7M in savings with GTreasury

How GE Receives and Warehouses eStatement Information Across Multiple Banks

General Electric needed to streamline how it accessed and retained bank account statement information for roughly 14,000 accounts across more than 100 banks in 98 countries. GTreasury’s case study explains that GE sought to reduce administrative burden, eliminate paper, standardize processes and integrate e‑statements into its treasury workstation using SWIFT FileAct, working with banking partners Bank of America Merrill Lynch and J.P. Morgan.

GTreasury describes how GE built an electronic statement warehouse, integrated it with its treasury workstation and rolled out SWIFT FileAct through pilot and phased delivery with partner banks. The new e‑statement solution eliminated paper storage, improved security and process efficiency, cut staff hours, and delivered measurable savings of about US$200,000 in FY2012 with an expected further US$1.5m+ the following year (roughly US$1.7m total), while providing a scalable multibank platform.

General Electric

Susan Boeri

General Electric