Health Care Service Corporation (HCSC) was awarded the Association for Financial Professionals (AFP) 2021 Pinnacle Grand Prize for excellence in treasury and finance. The Pinnacle Grand Prize, sponsored by MUFG (Mitsubishi UFJ Financial Group NYSE: MUFG), was presented Sunday during AFP 2021 in Washington, DC.

HCSC’s submission centered on treasury becoming more data-driven, which meant upgrading skills, process efficiencies, automation, technology, and digital visualization techniques to better capture treasury data.

In response, HCSC’s treasury team underwent a complete digital transformation. New teams were created, including a dedicated treasury systems solutions team, expanded forecast teams, and created enterprise banking service solutions function. Technology platforms were optimized, while data was centrally organized to make better decisions.

“AFP is honored to recognize HCSC with the 2021 Pinnacle Award Grand Prize,” said Jim Kaitz, president and CEO of AFP. “While integrating new technology is no easy feat, HCSC’s solution allowed its treasury team to operate more effectively as it optimized various technology platforms.”

MUFG donated $10,000 to the charity of HCSC’s choice, Bear Necessities Pediatric Cancer Foundation, a national organization dedicated to eliminating pediatric cancer and providing hope and support to those who are touched by it.

Submit your innovative idea for the 2022 AFP Pinnacle Awards, sponsored by MUFG. Three finalists will be chosen from all submissions and one Grand Prize Winner will be announced at AFP 2022 this October in Philadelphia. Submit your solution here.

“MUFG is proud to partner with the AFP in recognizing innovative work that drives excellence in treasury and finance,” said Ranjana Clark, head of Global & Americas Transaction Banking; Bay Area President. “HCSC’s submission demonstrates how a data-driven approach can transform processes and inform decision-making. We congratulate the HCSC on receiving the Pinnacle Award and we are pleased to support their charity, Bear Necessities Pediatric Cancer Foundation, in its commitment to ending pediatric cancer and to those they serve.”

The runners-up for the Pinnacle Award were Bechtel and Micron. Along with HCSC, these organizations were selected as finalists for their ability to demonstrate innovative solutions that advance not only their organizations but also the treasury and finance profession as a whole.

Read about the other finalists.