Businesses are battling a host of challenges in 2017: namely, the uncertain global economy, volatile financial markets, escalating geopolitical tensions, and the constantly evolving regulatory environment. This is the resounding message I heard from corporate treasury executives across a diverse group of businesses whom I met to discuss the key trends and topics facing their organizations.
Against this backdrop of challenges, many treasury leaders are focusing on three major themes in evaluating their banking relationships. They're considering the safety and security of their banking operations, they're monitoring technology innovations that may be relevant to their operations, and they're improving the efficiency of interactions with their banks.
1. Safety and Security
The Association for Financial Professionals' (AFP's) 2016 “Payments Fraud and Control Survey” found that 64 percent of finance executives—from businesses of all sizes—experienced at least one incident of business email compromise in 2015. Wire transfers were the payment method most likely to be impacted. Many treasurers I spoke with said they knew of businesses that had been attacked in the past 12 months.
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