Four Possibilities for Cross-border Payments

tomatoagNews 'n Views, Tomato

Almost 50% of companies consider a bank’s B2B payables offering to be a very important part of the bank selection process, the Strategic Treasurer data shows. The 2017 B2B Payments & Working Capital Management Survey also found that as many as 67% of companies operate in more than one country and 33% in more than 20 countries, reports Victoria Beckett, editor of GTNews.

Technology offers more and more methods of payment and globalization is ongoing, so it is not surprising that treasurers are considering to upgrade their cross-border payment processes.

The article 4 ways to make cross-border payments in theglobaltreasurer.com explains four of the major cross-border payment methods and explores the advantages and disadvantages for businesses.

  • SWIFT for companies
  • EBICS
  • Host-to-host (H2H)
  • Block chain

Martin Schneider’s comment:
Please read above “A Day in the Life of Martin Schneider” . Bank Gateways have been our daily business solutions for 10 years.

A Digital Toolkit for Treasurers

tomatoagNews 'n Views, Tomato

Digital technologies, which dictate how treasury will “optimize financial assets and liabilities, drive cash flow improvements, process cash transactions and manage financial risk are on the precipice of profound change.”

The Bobsguide article Digital treasury: A future state vision explains

  • Elements of the Digital Toolkits for treasurers (incl. blockchain, IoT, RPA, Cloud, etc.)
  • Applying the Digital Toolkit to the treasury operating model (excellent graph including all parts of corporate treasury)
  • The Digital ToolKit in action – financial risk management (again, a great graph)
  • The Journey forward: 6 Actions to take to begin the journey to digital transformation