Verna Grayce Chao
Executive Vice President, Treasury Management Solutions
City National Bank
Verna Grayce Chao, executive vice president in charge of City National Bank’s Treasury Management Solutions, started 2020 focused on building out the bank’s entertainment payments ecosystem – when the solutions her team creates became more important than ever. City National’s Treasury Management Solutions team offers business clients products to efficiently manage their funds and weather the fluctuations of cash flow.
When COVID-19 struck, many clients found themselves needing to work remotely, which required creative solutions to manage their business payments. Chao’s commitment to tech-enabled, user-friendly financial products were a boon to clients upended by the stay-at-home guidance. A number of Chao’s products have helped solve pain points for clients needing innovative payment processing. For example, usage of one service that allows the client to pay vendors remotely by check, reducing low-value clerical activities and saving time, increased 700% from March 2020 through June 2020.
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