Client Builds On Competitive Advantage With Payment Innovations

Situational Overview

A complex set of challenges to be met.

A major entertainment industry client needed a cutting-edge digital payment process with an exceptional user experience. The company was processing thousands of complex payments every month — including a large number of payments from multiple sources — using a legacy system.

Client Goals

An award-winning solution for an end-to-end digital payment system.

A new system was needed to fully satisfy current demands while being scalable for the company’s future needs. Complex challenges were met head-on to achieve the solution.

The business collaborated with City National to create an innovative solution and won a prestigious industry award for the technology and payment solution.

"City National is all about providing our clients with innovative,
efficient and secure end-to-end solutions.”

Verna Grayce Chao Executive Vice President Commercial and Consumer Banking Products

City National's Approach

A team of experts ready to step up

City National deployed a dedicated team to oversee the transition of a legacy system to a more efficient and automated process. Some of the team’s challenges were connecting metadata with proper payments and coordinating talent enrollment on to the platform.

The final innovative solution smoothly integrates three sophisticated financial technologies offering bank-level security. City National’s plug-in connector automated payment and reporting workflows with robust application programming interfaces (APIs) that comprehensively manage these processes. That plug-in was integrated with the client’s enterprise resource planning (ERP) system, allowing for full domestic and international payment processing. The final integration was with City National’s SaaS-based platform, Exactuals, which provides real-time payment status and reporting portals for both the business and its clients.

“That’s exactly what the new digital payment solution does for our clients — it provides a cohesive and automated process that meets their current demands while also being scalable for the company’s strategic expansion in the future,” said Verna Grayce Chao, who heads City National’s Treasury Management Solutions. “It’s been fantastic working with our valued client on this new platform that is enriching the client experience.”

Industry-Leading Benefits

A fully upgraded user experience

The retooled and scalable system provides a streamlined experience to multiple stakeholders including executives, finance professionals, business managers and — most importantly — the creative professionals who receive the payments. All users have gained a customized, end-to-end life cycle view of revenue and associated payments through a convenient and secure delivery portal. Metadata is managed automatically and formatted to the business specifications.

This allows their clients to now enroll securely online and register their preferred payment delivery method. Clients and their designated team members can also view payment details in real time. Dashboards and analytics allow clients to visualize key business data, including project revenue, performance and comparatives. This rich, real-time reporting provides them with strategic informational benefits and is another way for the new payment solution to deliver a competitive edge.

Substantial time and cost savings have resulted from City National’s solution. Support calls have greatly reduced while payment process efficiencies have introduced significant additional savings. Best of all, their workforce now has the time it needs to focus on what matters most — serving clients and advancing the organization’s strategic initiatives.


An award-winning outcome

As a result of this excellent collaboration with City National, the large entertainment client won a prestigious industry award for the technology and payment solutions.

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Exactuals is an RBC company and a wholly-owned subsidiary of City National Bank.