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Last year , OpenLink Vice President of Commodities & Treasury Solutions Mark O’Toole spoke with FX-MM about the intersection of Big Data and treasurymanagement, noting that managing data for real-time riskmitigation is “a bigger challenger than you would imagine.”
Yet, understanding and developing a clear strategy for FX riskmitigation can be elusive, even for the largest firms. Studies also show that most executives agree their top challenge is market volatility and the struggle to determine when — and how — to hedge currency risk.
Reval offers treasurymanagement solutions that have now become the target of an acquisition. “The acquisition of Reval substantially increases our footprint in treasury cloud services and enriches our product portfolio with leading functionality in risk and hedge accounting,” said ION CEO and Founder Andrea Pignataro.
As banks look to pair with FinTechs to meet the treasury needs of their corporate customers, they’re also looking towards such innovators to integrate some of those same solutions in-house. ManagingRisk. One technology Beaulande cited as especially helpful to banks’ treasury departments is the API.
But Big Data lands new capabilities in the hands of corporate treasurers and other executives that yields active, real-time assessments of risks from multiple angles, from counterparties to compliance. Effective counterparty management hinges upon setting and actively managing a core set of counterparty metrics.
In addition to steering their organizations through the murky and rocky waters of an economic downturn, treasury departments are securing a place at the decision-makers' table to offer higher-level guidance. Some may say, 'data is the next oil,' but it can't be if the company doesn't have the platform to optimize its use.".
Corporate payments still don’t have a clear role in driving the adoption of faster payment technologies and systems in the U.S. The obvious assumption in the business-to-business (B2B) landscape is that faster payments are not only unnecessary, but unwanted, as corporates don’t necessarily need to move money immediately.
The tool interconnects Shell’s central treasury office to its 718 operating units to manage foreign exchange (FX) risk and volatility with its more than 200 bank partners. “Now, we can more efficiently route market requests from regional centers around the world to our central treasury. .
As Peter Robinson, EuroCommerce payments adviser, told PYMNTS in the PSD2 Tracker, businesses are looking toward their card acquirers to fill the education gap. According to the FCA, virtual corporate cards used within access-controlled corporate travel management or corporate procurement systems would assumedly qualify for that exemption.
Riskmitigation is often thought of in the context of FX volatility and global trade. According to the executive, it becomes a problem when the FX and hedging platforms, cash and treasurymanagement tools and commodities procurement processes don’t all interconnect with each other.
Cross-border payments and riskmanagement company AFEX is doing a bit of cross-border movement itself. The company revealed Monday (March 14) that it is opening a new office in Madrid, eyeing Spain as a strategic hub for its global corporate payments solutions. According to AFEX, the nation saw a 4.7
Technology Tripping Up Treasury. While technology can aid treasurers in their complex risk-mitigation initiatives, Deloitte concluded that corporate treasurers are actually struggling to fully grasp the capabilities of innovations. More than a fifth of treasurymanagement systems are managed in spreadsheets, the report found.
New faster payment initiatives are popping up around the world, from Saudi Arabia to Brazil to Australia. According to the latest PYMNTS Faster Payments Tracker , Same Day ACH volume has seen a 24 percent increase year over year between the first quarter of 2018 and the first quarter of 2019. In the U.S.,
For OANDA, that means developing a robust foreign exchange (FX) management solution for corporate treasurers — only the company isn’t targeting treasurers directly with the tool. We’re looking to partner with treasurymanagement system [TMS] providers out there. Companies are going global, and payments are becoming faster too.
Find out which figures led to good growth — like digital corporate payments increases or a rise in SME hedging practices — and which signal bad news for corporate FinServ. trillion worth of payments passed over the U.K. Direct debit cards are used by 85 percent of U.K. According to reports, the company expects to surpass $1.7
Corporate treasury is now more strategic for the enterprise, meaning chief financial officers and treasurers must be close-knit with their organizations’ boards of directors. More than a third (36 percent) of survey respondents said fraud monitoring and riskmitigation are the areas in which CFOs are most falling short.
The potential cannot be ignored, however – particularly in the finance department, where information from accounts payable, accounts receivable, treasury and accounting hold the keys to insight into cash flow, predictable payment behavior and new opportunities to boost the bottom line. ”
The report concluded that treasurers lack the technologies they need to heighten that visibility and obtain real-time insight into FX risk exposures. In Ramos’ view, treasurers are beginning to take the lead in FX riskmitigation, and it appears education has become a critical component of that effort.
Treasurymanagement technology firm Reval says Brexit makes it painfully clear that, for those businesses not conducting contingency and scenario planning, their financial situations are far less stable. Following the U.K. “The future of the U.K.
Among the speakers was Graham Taylor, Vodafone’s assistant treasurer, who emphasized the potential for PSD2 regulations to have a profound impact on corporate cash management and payments. Reports noted that Taylor pointed to the increasing role of APIs in a PSD2 world.
Further, Citi found, corporates’ hedging policies are often reliant on manual processes as treasurers struggle to integrate their firms’ enterprise resource planning (ERP) and treasurymanagement system (TMS) solutions with each other. “As Vietnam, Jamaica Urge FX RiskMitigation.
Finmo, a treasurymanagement and payments platform, has secured US$18.5 The company provides a unified Treasury Operating System (TOS) that streamlines financial operations, automates treasury processes, optimises liquidity management, and enhances financial decision-making and liquidity optimisation.
While there is technology to heighten transparency of business processes like cash flow, FX risk and other financial aspects of the job, the accuracy, accessibility and actual use of those tools is far from a sure thing. Greater visibility of risk exposure could help lessen the impact of late invoice payments. The reason?
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