Treasurers took the lead in asserting how banks can better meet corporations’ needs, while banks signaled their willingness to work to improve the relationships in several sessions at last week’s International Cash and Treasury Management conference held by EuroFinance in Rome.
During a panel discussion focusing on the relationship between banks and corporates, treasurers expressed their frustrations with perceived gaps in communication, with Mark Kirkland, vice president of treasury at Bombardier Transportation in Switzerland, observing that banks don’t always fully understand their corporate clients’ business. A poll of the audience suggested that 55% of delegates thought corporates could best improve the relationship with their banks by providing greater openness and transparency. But what is it that banks need to understand better? And what can treasurers do to facilitate this?