Enhanced treasurer-banker collaboration key to unlocking further revenue streams
New technologies, centralisation, and market identification form key areas of focus for treasurers and bankers looking to drive future growth. September 20, 2013 | Magessan RajOne of the many topics that came under scrutiny at Sibos 2013 was the symbiotic relationship and mutual dependence between bankers and multinational corporate (MNC) treasurers, as both parties attempt to cope with the ever-evolving demands of the global marketplace. Banks value reliable transaction volumes and revenue streams in the increasingly volatile economy, while treasurers expect cross-border connectivity, fair pricing and open access interoperability. Indeed, the need for closer collaboration between both parties now is even more critical as corporate treasurers seek to centralise their operations in response to initiatives such as the Single Euro Payments Area (SEPA) or Bank Payment Obligation (BPO), as well as technology advances – such as the increasingly prevalent ISO 20022 XML messaging standard. Anita Prasad, general manager of treasury at Microsoft spoke on the need for both treasury and financial professionals to be on a constant lookout for growth opportunities, and achieve the correct balance. “It is important to lift up our heads and see what else is on the long-term horizon [in terms of regulation, financial practices and technology] and to see what we can do to drive the changes that are critical to our collective success,” Prasad said. “As the world has evolved from gathering data to deriving business intelligence from Big Data, Microsoft has invested in developing BI tools that can give us real-time cash balances by currency, country, entity, and bank; literally by just one click,” Prasad added. “Centralisation is not the right solution for every company – local compliance and business practices sometimes apply – which is why we all need to find the right balance.” While efficiency gains for MNC treasurers via centralisation and payment factories justify technology and investment demands, banks are a key partner in the trend too; ali... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Cash, Treasury & Trade, Channels, Customer Centricity, Innovation, Technology & Operations, Transaction Bankingcash,Channels,Customer Centricity,Innovation,technology,Transaction Banking, Cash, Treasury & Trade,Channels,Customer Centricity,Innovation,Technology & Operations,Transaction Banking, Keywords:Sibos 2013, MNC, Andre Casterman, SWIFT, SEPA, BPO, Anita Prasad, Microsoft, Diane Reyes, HSBC, Jiten Arora, Standard Chartered Bank Sibos 2013, MNC, Andre Casterman, SWIFT, SEPA, BPO, Anita Prasad, Microsoft, Diane Reyes, HSBC, Jiten Arora, Standard Chartered Bank
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