Treasury Services is a mission-driven financial services technology enterprise that serves as a strategic partner, consultant, and provider of cutting-edge products and services to the United States Department of the Treasury. Treasury Service's vision is to drive industry best practices to transform fintech for the benefit of US agencies and citizens and be the preferred fintech professional services organization for Fiscal Service.
Who we are
Treasury Services is one of the Cleveland Fed’s core business lines and supports the Treasury’s objective of expanding the use of digital products and payment services across the federal government. These products and services enable people and organizations to conduct business securely and efficiently, and we design, build, and maintain them here in Treasury Services.
The team applies strategic leadership, broad industry experience, and an Agile approach to build these products and services. Treasury Services is organized into three functional areas of responsibility:
Strategy & Product Management: The team’s capabilities include business architecture, product strategy, business and systems analysis, UX design, product development, and project management.
Operations: The team’s capabilities include settlement services, operations support, customer support, incident response and risk management, application security and fraud management, agency implementation, and financial and administrative services.
Technology: The team’s capabilities include application development and architecture, DevOps, software quality assurance, and site reliability engineering.
Our team is always looking to push the envelope, to find more efficient and better ways of doing things.
- System Security Manager
History of Treasury Services
Interested in working with us? Check out our open positions on our Careers site.
Agency and customer needs drive our strategy—we develop and leverage technologies that help shape the ways that people and businesses interact with the government.
Rather than focusing on delivering individual solutions for distinct business problems, Treasury Services’ team of software developers, technologists, product managers, agency liaisons, and other professionals strive to visualize the entire digital experience as a customer journey. The team employs Agile scrum and design thinking methodology, a cloud-based platform, and other industry-proven tools, techniques, and practices in a collaborative environment to embrace the challenge of delivering a high-quality user experience.
Treasury Services encourages new ideas, new approaches, best practices, and opportunities to improve while embracing the challenge of consistently delivering exceptional service and solutions.
We think about problems in different ways. We have a willingness to innovate and adapt.
- Software Architect
Treasury Services focuses on strategic innovation, with an emphasis on research and development, to create incredible experiences and advance existing products through data analysis, market insights, and product knowledge.
The team hosts an Innovation Lab and program that transforms ideas into workable prototypes, particularly in the area of ecommerce. Projects have included mobile-optimized payments and billing and contactless payments.
Treasury Services features a team of highly skilled User Experience (UX) professionals dedicated to delivering innovative solutions for large-scale digital applications. Using advanced data analytics and competitive research, the team remains laser focused on delivering empathic design and a meaningful, best-in-class experience for users.
The team utilizes the Cleveland Fed’s state-of-the-art Usability Testing Lab designed to facilitate engagement with customers to observe user behavior, with the end goal of driving customer-focused designs and providing a high quality user experience.
Our Agile UX methodology creates an environment where design innovation, technology and intent intersect into a customer first ideal.
- Senior UX Designer
Have you ever made a payment on a student loan? Applied for a passport? Or purchased a souvenir from a national park gift shop using a credit card? If so, you’ve touched applications designed, developed, and managed by the Cleveland Fed’s Treasury Services teams.
Treasury Services provides a suite of digital products and services which provides the ability for agencies and partners to collect funds electronically. Our portfolio of digital products include websites, mobile applications, and web services, utilizing enterprise services for remittance capture, billing, user management, and fraud prevention. Through innovation, strategy, and an emphasis on customer experience, Treasury Services invests in the latest mobile and web technologies to ensure the products and services are usable, flexible, and contemporary.
Transforming Tax Collections (T2C)
The Cleveland Fed is modernizing the world’s largest tax-collection system on behalf of the US Treasury through a new initiative called T2C. T2C comprises driving the strategy, development, delivery, and operation of a modernized tax-collection service that efficiently collects federal tax payments via digital channels.
Treasury Services signature product is a web portal for individuals and business to make secure online payments to government agencies. The website processed more than 221 million transactions valued at more than $205 billion in 2019 from sources such as electronic debits, credit and debit cards, digital wallet with PayPal, and Amazon Pay. Additionally, we manage a central processing hub for collecting check and electronic check and debit transactions, with annual volumes of more than 299 million transactions valued at over $770 billion. This movement of government funds from commercial bank accounts to the Treasury requires strategic business partnerships with commercial authorization and settlement providers.
Our portfolio also supports operational activities for a web-based data warehouse containing all revenue collection transactions, which provides federal agencies and the Treasury with detailed business intelligence and analytics centered on revenue collections activities.