Navigating cash and treasury: 1. Automate bank connectivity

July 15, 2020

Today, the most successful financial services organizations are more focused on what’s necessary to safeguard business continuity and solvency. Much of this begins with greater visibility and reliability of key data to help drive critical business decisions—especially during times of crisis.

To satisfy both operational and regulatory requirements, financial services organizations need operating models for cash and liquidity management. To achieve and maintain this capability successfully, organizations need to focus on gaining greater visibility into their cash and liquidity.

Download the eBook: Cash and treasury: Best practices for navigating uncertain times

For this reason, we have compiled a blog series reviewing cash and treasury best practices during uncertain times. This week, we focus on the first consideration: automating bank connectivity.

Consideration #1: Automate bank connectivity

Gaining complete visibility into multiple accounts can’t be done without automated bank connectivity. But according to PwC’s 2019 Global Treasury Benchmarking Survey, finding and implementing the right bank connectivity solution that best meets an organization’s unique needs can be difficult.

It’s because of this specific challenge that many companies lack visibility into more than a quarter of their global cash. A bank connectivity solution that effectively addresses security, automation, and cost should be of critical concern to corporate treasury.

But treasurers must also determine which of the available connectivity technology models best meet the needs of the company. The possible means include host-to-host solutions, country-specific protocols, and SWIFT connectivity solutions.

The ideal connectivity solution depends on a variety of factors, such as bank and payment transaction volumes, bank account structures, and the location of company banks. The sheer complexity of utilizing multiple connectivity methods lends itself to financial services organizations partnering with a technology vendor that supplies this functionality, instead of the organization attempting to manage multiple, connectivity methods on its own.

Next week, we’ll look at how best-in-class companies are approaching cash positioning in times of crisis.

If you would like to discover more about automating bank connectivity and related topics, we invite you to download this eBook on how to navigate uncertain times and elevate cash and treasury.

Filed Under
  • Financials
  • Banking and Financial Services
  • CloudSuite Corporate
  • Liquidity Management (Realiti)
  • Infor Treasury Management
  • Worldwide
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