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…
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…
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…
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…
New Fixes for Old Problems: Bank Connectivity
Posted OnFebruary 11, 2022 byIt’s no secret that bank connectivity has moved on in the last few years. While old connectivity models may have served their purpose, they also have some notable shortcomings. Fraud risk is one, as older ways of connecting can include avoidable points of vulnerability. In addition, legacy processes can result in delayed information and payments….Read More…
The 6 Disadvantages of Host-to-Host Bank Connectivity
Posted OnJanuary 27, 2022 byAs corporate treasury departments juggle multiple critical priorities like managing liquidity, optimizing cash, financing, controlling risk and managing bank relationships, timeliness to decision and action becomes more critical. Host-to-host (H2H) has been the default channel for bank connectivity for more than 20 years. But technology has improved in those past two decades, and the use…Read More…