The Future of Corporate Treasury

19 The Future of Corporate Treasury “Several companies are offering groundbreaking and disruptive technologies around banking and treasury. But is the user, the corporate, or the bank ready for it?” “For example, BELLIN is working on functionality to white-list and blacklist vendor records. In the long run, a shared ledger could be created where data is shared among corporates to improve security and reduce fraud cases.“ “Not long ago, many corporates could not imagine storing their critical treasury data in the cloud, which is now the standard for business applications. Now we must go the next step and understand the impact and benefits of sharing data among corporates.” “From that point it is not so much a question of what technology vendors can develop, but more so, what users are willing to adopt.” Martin Bellin Chief Executive Officer, Bellin Exponential technologies will become more mature. As exponential technologies become more mature, market confidence in it will grow which will lead to the more critical, value-adding, strategic activities being trusted in the hands of exponential technology as well. However, one of the bigger challenges will be to achieve more advanced data intelligence with a move toward further data standardization and availability. With data as the key to knowledge, some organizations treat it as their “pot of gold” while for others it is nothing more than a missed opportunity. Timely and accurate data streams will become (even more) vital as automated decisions cannot be based on incomplete sets of data. For automated processes to work, data streams will need to be accurate and complete all the time, not most of the time. In our opinion, to improve decision-making, corporate treasurers should embrace a data-driven culture supported by developing a data strategy to identify, collect, manage and analyze all the relevant data. “As treasury moves toward more standardized and automated processes, two challenges will need to be addressed along the way: • Full end-to-end (E2E) adoption, standardization and availability: Timely and accurate data streams will become (even more) vital as automated decisions cannot be based on incomplete sets of data. • Self-determination and potential fraud risk: The overall question is how far the treasury departments are ready to hand over decision power to AI and robotics.” Marc Delbaere Global Head of Corporates and Supply Chain, SWIFT “More data has been created in the past two years than in the entire previous history of the human race. …At the moment less than 0.5% of all data is ever analyzed and used.” – Bernard Marr, Forbes