Financial Industry Vets Leverage 50 Years Experience to Found DeNovo Treasury

Top Quote New Detroit-based Firm to Help Small Banks Introduce Treasury Management and Other Products to Market. End Quote
  • Detroit, MI (1888PressRelease) October 28, 2022 - Financial services industry veterans Dana Bacon and Will K. Grace have teamed up to found Detroit-based DeNovo Treasury. This new consulting firm helps community banks and mid-size financial institutions across the U.S. define strategy, transform client experience, and grow revenue in treasury management, product management, and faster payments.

    “The shop local trend includes consumers choosing local banks, which is great news for smaller financial institutions, but it also adds pressure on them to offer a solid product suite traditionally associated with larger industry players,” explained Grace. “Our team specializes in working with community banks and mid-size financial institutions to bring the right products to market quickly and find the right partners to help you accomplish your goals. We act as an extension of your team to increase your competitiveness and long-term success.”

    “The Clearing House’s Real-Time Payments network has been live since 2017 with volumes increasing exponentially year over year,” Grace added, explaining an immediate industry trend DeNovo is uniquely positioned to address. “The Federal Reserve’s FedNow network is in pilot and will launch in 2023. DeNovo Treasury is here to help community bank leaders make a plan to leverage these faster payment alternatives.”

    Founder, co-owner, and lead consultant, Grace is a 32-year veteran of the financial services industry, having spent most of his career working for large financial institutions. He is an expert in treasury management for businesses of all sizes, and the products, services, and solutions to manage their payables, receivables, deposits, liquidity, and digital banking needs.

    Throughout his career, Grace has been responsible for developing and executing strategies related to payments: ACH, wire, integrated payables, bill payment products, and the emerging arena of faster payments. He also has extensive experience building and leading product management teams.

    With 20 years experience in the financial services industry, Dana Bacon, co-owner and product and sales consultant has mastered all aspects of treasury management ranging from directing the line of business, product management, sales, marketing, analysis, and implementation. As a Certified Treasury Professional, driving innovation and managing effective cross-functional teams is a large part of what makes Bacon excited to show up for her clients every day.

    “Smaller financial institutions tend to be nimble and innovative but often don’t have the resources to adopt strategies that can help them grow,” said Bacon. “DeNovo Treasury is the extra power financial institutions can use to accelerate bringing treasury management products and services to market. Our focus is to help identify needs and opportunities, create a roadmap for moving banks forward, and being a trusted advisor to our clients and their teams.”

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