DIGITAL BANKING
Changing needs To meet these changing needs , banks are reimagining their treasury services offerings . Many are moving beyond traditional transaction execution to provide more comprehensive , multifunctional platforms which address a wider range of treasury activities .
One key trend is the integration of advanced liquidity management tools into corporate global transaction banking ( GTB ) portals . These tools often include treasury management systems , cash forecasting capabilities , and supply chain finance solutions .
By embedding these features directly into their platforms , banks are positioning themselves closer to the core decision-making processes of their corporate clients .
Cutting-edge solutions Recognising that they may not have all the necessary technological capabilities in-house , many banks are forming strategic partnerships with fintech companies . These collaborations allow banks to offer cutting-edge solutions while maintaining their established relationships with corporate clients .
As Craig Jeffery , Managing Partner of consultancy Strategic Treasurer , told Deutsche Bank : “ Cooperation and collaboration are not merely an option ; they are the way forward . Some banks are innovating directly , but there are far more start-ups and fintechs coming up with new solutions that need to be integrated .”
Banks gain access to advanced technologies and agile development processes , while fintechs benefit from the banks ’ established client bases and regulatory expertise .
Says Blake : “ Fintechs have disrupted treasury operations through tooling – putting in the technology has allowed greater efficiency and greater accuracy . It ’ s also allowed a move towards standardised best practices , such as standardised file formats .”
Hurdles and challenges While the new wave of treasury solutions offers numerous benefits , it also presents challenges for corporate finance leaders . One significant issue is budget constraints . A study by Coalition Greenwich found that only about a
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