Over the past two decades the need for mobile data has increased exponentially. During this time, American Tower’s business has increased to meet this business need, growing from a spin-off of American Radio with a single location to a conglomerate that owns towers in 16 countries. The growth of their ecosystem spawned a need for operational efficiencies and consolidation. Domestic transactional functions that once could be managed through Excel spreadsheets and by logging onto online bank portals became far too large and complex to be managed manually.
In 2014, recognizing the need for change, American Tower brought in new staff to transform treasury operations. One of that team’s first orders of business was to implement a new treasury management system – Reval – and the second was to reorganize treasury globally.
The American Tower team was initially more concerned with TMS capabilities than with bank connectivity. But when they started to centralize global treasury operations, they found Reval’s partnership with Fides to be a valuable asset.
Fides has been Reval’s preferred bank connectivity provider since 2011, when the two companies announced a partnership that included Fides joining Reval’s STP Community. Fides’ bank connectivity offering is now part of Reval CORE – a pre-configured package of cash and liquidity management functionality from the Reval cloud platform.