Digital Revolution in Treasury

For corporate treasuries there remains a gap between the digital and real-time nature of financial services that retail customers expect, and the operational reality of corporate banking. Fragmentation, manual and slow movement of funds, batch processes and difficulty in scaling operations remain key problems.

However, as instant payments infrastructures become more prominent in an increasing number of countries and payment limits increase, there is a greater potential for change. Combined with the regulatory standardisation of open banking APIs, and the possibilities offered by Virtual Account Management (VAM), the potential for real-time treasury is becoming increasingly attainable.

Banks should not become complacent in their role as a trusted partner and provider to corporate treasuries. Indeed, treasurers no longer see banks as their sole trusted advisor. As their needs have evolved, treasurers have become more open to working with service providers outside the banking community. This is driven by treasurers’ increasing interest in automated processes and self-service execution. Rising technological capabilities delivered by fintechs, Enterprise Resource Planning (ERP) vendors and Treasury Management Systems (TMS) are unsettling the status quo.

Download this new paper by Finextra in association with Tieto as we explore what options are available to corporate treasuries and what banks need to do in order to address the rapidly evolving requirement of treasuries.