Open Banking: data portability, greater transparency and competitive advantages are heading your way – are you ready?
Posted OnJune 10, 2022 byThere are few innovations that come along that completely change the industry landscape, but when they do it’s impossible to deny the impact. Open Banking is one such innovation. It is enabling connections, changing the way financial institutions and corporates process transactions, and all while driving transparency, security and convenience. What is Open Banking? Open…Read More…
Uncovering the real – and ongoing – costs of bank connectivity: SWIFT/H2H Connectivity
Posted OnJune 7, 2022 byAs market and supply chain challenges continue, companies are looking for not only better ways of doing business to improve company cash flow, forecasting capabilities and overall liquidity, but doing all of this with streamlined teams, higher turnaround demands and reduced — or no — capital investment. Everything is on the table and every corporate…Read More…
Sink or Swim: How Data Lakes Remove Silos and Improve Cash Visibility
Posted OnJune 6, 2022 byIn a recent webinar, experts from FinLync and Actualize Consulting discussed how treasury teams can use data repositories like data lakes or warehouses to increase cash visibility and remove siloes across teams. Though treasury teams could certainly spearhead the creation of a data repository at their company, leveraging an existing data repository that has already…Read More…
Real-time Bank Data Doesn’t Mean More Frequent Bank Statements
Posted OnJune 3, 2022 byYou work in treasury and it’s 10:00 AM: do you know what your bank balances are? A simple question, but unfortunately, it may not have as simple an answer. In fact, pursuing this most basic question – what are our numbers? – can take two fundamental paths, one traditional and time-consuming, and the other, modern,…Read More…
What is Netting?
Posted OnMay 23, 2022 byFor corporate treasurers, it’s important to minimize unnecessary costs, mitigate risk and manage cash more effectively. Fortunately, there is much that companies can do to achieve their goals – and netting is one technique that treasuries can use to achieve their liquidity goals and keep costs under control. However, the meaning of netting is not…Read More…
8 Important Payments that Cannot Wait
Posted OnApril 26, 2022 byEvery finance organization has been there: waiting for confirmation that a critical payment has officially been received. Sweating it out until a vital funding request successfully arrives at its destination, constantly checking and rechecking for a payment acknowledgement, or having the eyes of the entire C-suite on them until a major acquisition payment has been…Read More…
Debunking 5 Misconceptions about Real-Time Bank Data
Posted OnApril 22, 2022 byIn a recent webinar hosted by Corporate Treasurer, industry leaders from Standard Chartered Bank, global fashion and textiles supplier Epic Group, and FinLync discussed the quantitative and qualitative benefits of real-time bank data and directly addressed 5 common misconceptions about bank API connectivity. Misconception #1: Bank APIs will soon be standardized Some in the treasury…Read More…
Cybersecurity in Banking: Negating the Risk
Posted OnMarch 3, 2022 byAs cyberattacks continue to become both more sophisticated and more widespread, the need for effective cybersecurity in banking has never been more pressing. A 2020 report by McAfee, ‘The Hidden Costs of Cybercrime’, estimated the cost of global cybercrime to be over $1 trillion, up from $600 billion in 2018. Meanwhile, almost half the respondents…Read More…
What is SWIFT? Definition and Basics
Posted OnMarch 1, 2022 byEditor’s Note: Amidst the market implications of the conflict in Ukraine, the very real human cost is at the forefront of the world’s concerns. Our thoughts are with Ukraine and the people impacted by this war. All of the information in this article is public knowledge. Getting ousted from the SWIFT network is viewed as…Read More…
How do APIs work in banking?
Posted OnFebruary 22, 2022 byAPIs are playing an increasingly important role in today’s world, and banking is no exception. Corporate treasury teams are looking for real-time access to data that can help them operate more effectively across activities such as reconciliation, forecasting, cash management and payments – and bank APIs can deliver the real-time connectivity and richer data they…Read More…