Search
 
Analysis

Payment Trends That Should Be on Every Treasurer’s Radar

Recent EY banking survey reveals which emerging payments technologies are closest to reaching widespread adoption amongst corporate treasury teams.

By Alan Zimmerman & John Lothman | August 17, 2022 at 04:30 PM
Stock illustration: Radar

The Covid-19 pandemic has represented an unprecedented health crisis of a magnitude without parallel in modern times. With no clear endpoint, the pandemic has exposed vulnerabilities and gaps in technology and infrastructure throughout the global financial services industry.

In light of these vast challenges, many corporate treasurers have faced firsthand the tangible impact of legacy, inconvenient, and slow transactional processes. The pandemic laid bare the problems with continuing to manage cash using the physical and manual processes that are predominant in most corporate treasury functions.

At the same time, the pandemic hastened the development of digital innovations that can increase the speed and control corporate treasurers have over their cash positions, while also improving the security and safety with which they perform transactions. The 2021 edition of the “EY Cash Management Services Survey” found that 17 percent of banks’ staff are dedicated to product management and product development teams. Notably, there’s been increasing adoption of application programming interfaces (APIs) to facilitate new capabilities and interoperability throughout banks’ cash management business units, resulting in data standardization, improved timing and connectivity, and streamlined flow of information to corporate treasurers.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2023 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.

Dig Deeper

 

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.