4 WAYS TECHNOLOGY IS MEETING TREASURY NEEDS
Open banking , APIs and advanced analytics tools are transforming how corporate treasures interact with their banks , especially in Europe .
Real-time visibility The collaboration between banks and fintechs is yielding significant benefits for corporate treasury departments . One major advantage is improved real-time visibility into liquidity positions . Advanced analytics tools can provide treasurers with comprehensive overviews of cash flows , investment plans , and repayment schedules in real-time .
Enhanced forecasting Enhanced forecasting capabilities are another key benefit . AI-powered tools can analyse historical data and market trends to produce more accurate cash flow predictions , enabling treasurers to make more informed decisions about investments and financing .
Standardised best practice If you have 20 different banks and they all need different instructions as to how they are receiving file instructions , standardised file formatting takes out all the manual work involved in reconciling data .
Automating routine tasks Automation is also playing a crucial role in improving treasury efficiency . By automating routine tasks such as reconciliations and report generation , treasury staff can focus on more strategic activities . This shift aligns with the evolving role of treasury departments as key contributors to business strategy .
Open banking and APIs Europe has so far been ahead of America when it comes to opening up bank data to third parties , so called “ open banking ”. The use of application programming interfaces ( APIs ) between fintechs and banks have revolutionised instant payments in Europe , compared to America , where some banks still use cheques . That is changing in the US though .
130 January 2025