BETHESDA, Md., Aug. 15, 2017 /PRNewswire/ -- Allstate,
Hyundai Capital America and World Vision International are
finalists for the Association for Financial Professionals 2017
Pinnacle Award. Sponsored by Wells Fargo & Company (NYSE: WFC),
the Pinnacle Award, established in 1997, recognizes excellence in
treasury and finance.
Finalists were selected based on their innovative solutions that
helped their treasury and finance operations run more efficiently
and effectively. The AFP Pinnacle grand prize winner will be
announced October 15 at the AFP
Annual Conference in San Diego,
California.
If you are members of the press and interested in covering AFP
2017 or have any questions, please contact Melissa Rawak at mrawak@afponline.org or click
here.
Wells Fargo will make a
$10,000 donation to a charity of the
winner's choice. David Trotter,
executive vice president and head of Treasury Management at Wells
Fargo, and Jim Kaitz, AFP president
& CEO, will host the award ceremony.
"AFP is pleased to honor the 2017 Pinnacle Award finalists,"
Kaitz said. "The treasury and finance groups at Hyundai Capital
America, World Vision International and Allstate truly set the
global standard for their peers and their profession with
innovative solutions that help customers and fulfill their
mission."
Allstate embarked on its entry as a way to offer faster and
easier claim payments to customers. By switching from claim payment
via checks or Automated Clearing House electronic transfers to
digital payment, Allstate dramatically reduced payment time while
eliminating back-office paperwork and reconciliation
processing.
Hyundai Capital America's entry was its first global US dollar
bond issuance, which came in response to the first rising rate
environment in a decade. By expanding beyond its traditional U.S.
investment grade market and going global with its issuance, HCA
saved nearly $28 million in interest
and generated $3 billion in funding
as well as more than 100 new investors.
World Vision International's challenge was to cope with sharp
swings in currency rates, and potentially significant foreign
exchange losses, in the approximately 70 countries in which it
operates. WVI introduced an active FX management solution that
passed the savings to its country offices in the form of reduced
costs—thus, helping the global humanitarian, relief and advocacy
organization better fulfill its mission.
"This year's finalists brought forward-thinking ideas to the
treasury function and showcased how treasury teams can deliver
benefits enterprise-wide through innovative thinking," said
Trotter. "Wells Fargo is honored to recognize these companies, and
we are pleased to honor a worthy charity on the winner's
behalf."
For more information in attending the AFP 2017, October 15-18 in San
Diego, please visit https://an17.afponline.org/.
ABOUT AFP®
Headquartered outside Washington,
D.C., the Association for Financial Professionals (AFP) is
the professional society that represents finance executives
globally. AFP established and administers the Certified Treasury
Professional and Certified Corporate FP&A Professional
credentials, which set standards of excellence in finance. The
quarterly AFP Corporate Cash Indicators serve as a bellwether of
economic growth. The AFP Annual Conference is the largest
networking event for corporate finance professionals in the
world.
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SOURCE Association for Financial Professionals