As more companies take steps to centralize their payment processes,those using payments-on-behalf-of (POBO) structures will get a helping hand from the Single Euro Payments Area (SEPA).
Companies employing a POBO structure make payments for subsidiaries out of a central account, which allows them to cut back on bank accounts and related costs.
"In-house banks have been around for decades, while POBO solutions have been around for only about the last 10 years or so," said Drew Arnold, trade finance/cash management corporates global solutions Americas, Global Transaction Banking, at Deutsche Bank. "SEPA is one of the main reasons why POBO has taken off."
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Susan Kelly
Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.
