Media-Insert Communications

Automation Allowing Treasurers to Piece Together Balances and Cash Reports

Advances in technologies that allow for automation of processes have “completely revolutionised the forecasting process” for treasurers, according to Brett Turner, CEO of Trovata.

Having a multi-bank application programming interface (API) data platform is “paramount if you are seeking digital transformation.” He points out that many cash-centric workflows in treasury are binary and that if a treasurer doesn’t have all of their banks reporting, “it’s really hard to take action with a high degree of confidence.”

In August, Trovata and ICD launched an integrated corporate treasury solution.

It comes in the midst of a number of high profile announcements involving treasury and transaction services automation, as banks and corporates look to stem problems created by the pandemic: in August, Finastra announced it would be helping CIH Bank automate a number of its trade and supply chain finance services. 

Learn more about how automation is allowing treasurers to "piece together and cash reports."

Client: The Global Treasurer. Published on 7th September 2020. 

Egypt attempts to plug FX hole

Coronavirus exposes cracks in Egypt’s macroeconomic stabilisation. 

The state of Egypt’s security and macroeconomic stabilisation has been further weakened by the global coronavirus pandemic, according to think tank the Arab Reform Initiative (ARI).

The organisation’s August 2020 research paper reported that while the country remains stable on the surface, it continues to have deep structural problems with militarisation of the economy, claims of corruption and a shortfall in remittances from Egyptians working in oil-rich Gulf countries...

Discover more about how Egypt is plugging its FX hole.

Client: The Global Treasurer. Published on 7th September 2020.  

Is RPA a Stopgap in Automating Complex Banking Compliance Processes?

Robotic Process Automation (RPA) is proven to deliver cost-savings whenever it is used to automate simple processes. However, for more complex banking processes it comes with a warning to avoid over-utilising it, and, the predominant view is that enterprise architects should focus on using robust, scalable, APIs connected using proven and secure technology. Yet RPA still has its supporters in the banking and financial services world – despite the complexities of Know Your Customer (KYC), Anti-Money Laundering (AML) and Enhanced Due Diligence (EDD) processes.

Accenture Consulting’s whitepaper, ‘Evolving the AML journey: Operational Transformation of Anti-Money Laundering Through Robotic Process Automation’, begins by highlighting the cost-benefits of RPA. It also claims that RPA can boost “throughput and improve quality, while remaining compliant across the AML ecosystem.” The introduction of the 2016 report cites other benefits too: they include an implementation period of just 6-8 weeks, higher staff satisfaction by “eliminating monotonous tasks and allowing individuals to focus on higher value work”, reduce incidents caused by human error and – perhaps controversially to some – fewer full-time employees will also work on repetitive tasks...

Learn more about whether Robotic Process Automation is a stopgap for automating complex banking compliance processes.

Published by Arachnys on 7th January 2020. Client: Arachnys. Author: Graham Jarvis. 

 

Sibos 2019 Day 3: How Banks Should Be Preparing for PSD2

Before arriving at the Excel Exhibition Centre in London for Sibos 2019 Day 3 on 25^th September 2019, a press release detailing some good news from Bottomline Technologies dropped into my inbox.

The press release says that new digital bank Vive is set to deliver real-time payments to its future customers on day one of trading. The faster payments solution is Software-as-a-Service (SaaS) based and was launched in July 2019 in partnership with Starling Bank.  It embraces API-led technology, alongside Starling’s banking licence, to create a 24×7 direct connection to the Faster Payments Scheme (FPS). The service will enable Vive to meet customer expectations by delivering a fast, secure, and trouble-free experience. Nick Anthony, CEO at Vive commented “As a new player in financial services, we understand that outstanding customer service is key to our success.”

Published by SmartPayments.com. Author: Graham Jarvis. Client: Bottomline Technologies. 

Sibos 2019 Day 2 - Real-Time Payments: The Need for Speed

Day two of Sibos 2019, 24^th September 2019, very much echoed many of the thoughts expressed during the first day of the conference. The recurring themes talked about artificial intelligence, machine learning, open banking, regulatory compliance and the need to improve the speed of instant, real-time payments. Achieving this goal is no easy feat. There are opposing forces at play, which are affecting the ability of banks to align compliance needs with real-time payments.

The conference’s synopsis for the morning session about this challenge accepted that the payments landscape is rapidly changing. Find out how it's being transformed. 

Published by SmartPayments.com. Author: Graham Jarvis. Client: Bottomline Technologies. 

Sibos 2019 Day 1: Helping Banks Thrive In The New Real Time Open Environment

Sibos Day One was teeming with people bustling from stand to stand, and was filled with informative presentations from some of the greatest influencers and companies in the payments and banking space, sharing their predictions, concerns and insights.

Renowned physicist Professor Brian Cox opened the conference at Excel in London with a reminder about trust as one of the central themes of this year’s conference agenda. His presentation focused on what science can teach us about wider society. As part of his presentation he made mention of a couple of physicists who worked on the Manhattan Project during WWII, one of which was Julius Robert Oppenheimer. Oppenheimer claimed that nature forces us to look at the world in a particular way; it’s a harsh master says Cox to the extent that “there is no dodging what nature tells you.”

Learn more from Prof. Cox, and about how it's possible to help banks to thrive in the new real-time open environment. 

Published by Smart Payments on 24th September 2019. Client: Bottomline Technologies. Author: Graham Jarvis. 

Dodd-Frank Reform: Why Would It Force the UK to Relax Regulation?

US President Donald Trump signed an Executive Order on 3^rd February 2017 to review the 2010 Dodd-Frank financial regulations, which were brought in to prevent another 2008 financial crisis.  Simon French, Panmure Gordon’s chief economist, explains that “The Executive Order is more a set of principles to guide deregulation efforts. However recent testimony from senior Trump officials have suggested that legislation will look to revoke the ring-fencing of retail assets (deposits), which can no longer be used as collateral for investment activities – the so called Volcker Rule.”

President Donald Trump's 7 principles for reform are revealed. Find out more, read the complete article. #YearInReview

Published by The Kurtosys Blog on 19th April 2017. Author: Graham Jarvis. 

The PIIGS Economies: Too Big a Risk for Corporates?

Greece’s ongoing negotiations with the Troika of the European Union (EU) have renewed political and economic uncertainty across Europe. Corporate treasurers must ask the question – are the PIIGS (Portugal, Ireland, Italy, Greece and Spain) economies simply too risky?

Read the complete article, published by GT News on 15th April 2015. 

ACA, ACCA or CIMA: How to choose

Each accountancy qualification on the market has its own strengths and weaknesses in terms of course structure and career focus.

Graham Jarvis explores the options in his article for City A.M. Published on 12th February 2015.

The Path Ahead For Islamic Finance in Treasury

Islamic finance has attracted growing interest since the 2008 global financial crisis, which shook well- known financial institutions and the housing markets of major developed economies. New asset classes have been developed to broaden its appeal.

Read the complete article at GT News. Published on 22nd January 2015.