The EIU, supported by Deutsche Bank, has released its latest report: “A Quantum Leap: Building a data-driven treasury”. The report, based on a survey of 300 senior corporate treasury executives from around the world, sought to identify what being a data-driven treasury means and key considerations when developing a data strategy. In turn, 44% of respondents to the EIU survey indicate that cloud computing will be the most important technology for treasurers over the next five years, followed by big data analytics (42%) and artificial intelligence (37%).
“Treasury Management Systems deployed in the cloud offer a host of benefits, including a wider and more dynamic view of financial positions, automatic access to the latest analytical tools and an ability to more easily collaborate with stakeholders, reducing the need for data collection and input by treasury,” says Ole Matthiessen, Global Head of Cash Management, Deutsche Bank. “It has taken some time for risk-averse treasurers to accept the security and robustness of cloud-based solutions, but we are now witnessing a change in mindset.”
The news was covered by: Crowdfund Insider, The Paypers, cryptocryptonews, CTMfile, Der Treasurer, Asset Servicing Times, Finextra, The Global Treasurer, TMI
Demand for payables finance programmes has continued to grow in recent years, fuelled not only by working capital concerns, but also by the need for greater stability, as supply chains navigate an increasingly volatile economic environment. As an expanded base of anchor buyers, including non-investment-grade companies, move into the market for payables finance, however, the creation and implementation of robust industry standards will be important to ensuring the solution develops sustainably. In an article for TRF News, Deutsche Bank’s Christian Hausherr explores how payables finance is adapting to meet these ever-evolving demands.
To read the full article, please click here
Deutsche Bank has released the second edition of its white paper, “Regulation driving banking transformation”. The paper assesses the impact of three key trends in the financial industry: Can the increased product offerings and upscaled customer service of Fintechs alter the incumbent players’ business models and even the financial market structure itself? As BigTechs turn their attention to financial services, should regulators be more vigilant when it comes to competition and data protection rules? Is regulatory clarity setting a path for the development and evolution of the crypto assets market?
The paper calls for a regulatory environment that supports the safe and robust development of each trend – concluding that regulation will play a key role in shaping the face of this newly emerging landscape, defining the trajectory of change.
The news was covered by: TMI, The Asset, TXF, The Paypers, Business Money, Trade Finance Global, The Corporate Treasurer, TRF news, FS tech
The upcoming migration to ISO 20022 will have far-reaching implications for all banks, corporates and other important financial stakeholders. It is probably the most impactful payments industry undertaking since the introduction of the Single Euro Payments Area (SEPA) more than a decade ago, and will require CEO commitment, allocation of appropriate budgets, resources and project teams given that a multitude of areas will be affected across institutions. This is not simply “another IT project”.
Deutsche Bank’s series of guides on this topic, aim to outline exactly what we can expect between now and 2025, creating awareness of the impact of ISO 20022 implementation and sharing best practices for approaching a project of such magnitude. The first in the series, “Guide to ISO 20022 migration: Part one”, focuses on the implications for banks, with future editions turning to assess how corporates can best plan for the changes.
The news was covered by: CTM file, IBS intelligence, Fintech Insight, FTF news, Finextra, Financial IT
With the market for payables finance – and the understanding of it – evolving all the time, Deutsche Bank has released a revised and updated guide that seeks not only to factor in the latest developments, but also to re-evaluate the key questions that define the industry. What is payables finance and where does it fit into the wider universe of supply chain finance techniques? What is driving demand for these solutions? How do the physical and financial supply chains interact? And how do you go about setting up a successful programme?
“Payables Finance A guide to working capital optimisation” can be read here.
The news was covered by: Business Money, Trade Finance Global International Trade Magazine, TRF news, TXF, The global treasurer
The Global Supply Chain Finance Forum – an initiative comprising the ICC Banking Commission, BAFT, EBA, FCI and ITFA – has appointed Christian Hausherr, European Product Head of Supply Chain Finance at Deutsche Bank, as its Chair.
The GSCFF was established in 2014 to develop, publish and champion a set of commonly agreed standard market definitions for Supply Chain Finance. In turn, Hausherr – as a recognised expert in the field of SCF – has taken a leading role in the drafting of the GSCFF’s Standard Definitions for Techniques of Supply Chain Finance, as well as the Wolfsberg/ICC/BAFT Trade Finance Principles.
The news was covered by GTR, TXF, TRF News, Supply Chain Digital, SCF Briefing, Finextra, Fintech Finance, Financial IT, Fintech Insight.
The recent completion of SWIFT’s ground-breaking proof of concept (PoC), which tested the application and potential of distributed ledger technology (DLT) for nostro reconcilitation, has given the 34 financial institutions involved, amongst them being Deutsche Bank, much to consider. The blockchain technology was tested in a sandbox environment throughout 2017 and proved it can, as expected, help to deliver real-time liquidity monitoring and reconciliation. This said, the effective application of the technology is largely dependent on, and thus limited by, a bank’s existing system infrastructure and business models.
Reflecting on the results of the PoC in discussion with Banking Technology, Andreas Hauser, Senior Business Product Manager for Intraday Liquidity Management, Cash Management, Deutsche Bank, assesses that “DLT shows promise [but] unanswered questions remain”, particularly regarding the “considerable prerequisites” involved in adopting the program.
Hauser also points out that “what really drives value for nostro real-time liquidity monitoring and reconciliation isn’t the blockchain technology itself”: similar results could be achieved by connecting the pre-existing systems of the provider and user via APIs. Hauser concludes that “the clearest benefits are expected for financial institutions – typically medium-sized, regional banks of investment firms – with a higher dependency on nostro services”.
Read the full article at Banking Technology here.
Corporate treasurers have already taken significant steps to fortify their cybercrime defences however, chinks in the armour of many treasury departments still remain – mainly in the form of third parties.
Indeed, according to research undertaken by the Economist Intelligence Unit (EIU), whom surveyed more than 300 corporate treasury executives on their existing cybersecurity defence mechanisms, 19% of companies still do not check whether their suppliers use the same methods for identity authentication as they do. They have not, for example, asked whether suppliers have secure email systems to protect confidential information, or whether they offer the ability to check the IP addresses of log-ins to match them with preassigned, or “white-listed” addresses.
Writing in Treasury and Risk, Dave Watson, Deutsche Bank’s Global Head of Digital Cash Products, and Americas Head of Cash Management for Deutsche Bank GTB business, explains how such gaps leave the door open for imposter fraud in which hackers attempt to manipulate payment instructions, either by posing as a supplier and sending fraudulent invoices or by altering the payment instructions of legitimate invoices in order to redirect funds to a different account.
For Watson, avoiding falling victim to such incidents is a matter of working with supply chain partners to jointly tighten security protocols. “Basic steps include ensuring third parties use a secure email system, including two-factor authentication (or equivalent) to verify that employees of the supplier are who they say they are. In addition, companies should check whether their suppliers track the IP addresses of those entering their treasury management or email systems.”
After all, a chain is only as strong as its weakest link.
To read the full article, please click here.
In an increasingly competitive supply chain finance ecosystem – consisting of banks, non-banks, and a combination of the two – what makes a payables finance programme ‘successful’? And how can corporate treasurers select an effective provider?
Writing in TMI, Anil Walia, Deutsche Bank’s Head of Financial Supply Chain, EMEA, suggests that corporates should base their search for an effective provider on three simple criteria: Is the payables finance programme easy to set up (and how is technology facilitating this)? Can the provider successfully on-board suppliers across all relevant geographies (and how is technology being used to make this more efficient)? And perhaps most importantly, is the offering structurally sound and sustainable?
Even as emerging new technologies, such as blockchain and artificial intelligence, continue to broaden the current and future options available to corporate treasurers, Walia argues the “fundamental questions a corporate must ask of their provider remain the same”.
To read the full article, please click here.
Deutsche Bank has picked up a record-breaking total of 46 awards in The Asset’s 2018 “Treasury, Trade, Supply Chain and Risk Management Awards”, exceeding the 2017 total (a previous record) by seven awards.
Running for close to 20 years, The Asset’s awards offer pre-eminent recognition in Asia for those seen to have excelled in corporate treasury management, trade finance and the supply chain finance space on both an in-country, regional and global level. With client feedback acting as a cornerstone of the evaluation process (obtained through The Asset’s annual Treasury Review Survey and specific client solution interviews), the results are a fantastic recognition of Deutsche Bank’s dedication to service quality, and stand as testament to the bank’s strength across products, divisions, and countries in Asia Pacific.
Deutsche Bank amassed a total of 23 Awards for specific client solutions in the treasury management, trade finance, supply chain finance and e-solution space, while also scooping “Best Bank for Working Capital Solutions and Trade Finance” in South Asia, on top of an additional 20 country-level banking awards.
The bank added two further wins through its clients in the “Industry Achievement and Leadership” award category. Fiona Zhang, Head of Treasury at Education First, was awarded “Treasurer of the Year (China)” on the back of her implementation of a suite of Deutsche Bank solutions designed to enhance Education First’s operational and liquidity efficiency in China. In addition, American Express India won “Treasury Team of the Year”, in recognition of its development – in partnership with Deutsche Bank – of a truly innovative, digitally-enabled regional treasury centre in Asia Pacific.
More to come? The winners of The Asset’s most coveted awards including “Best Bank in Risk Management in Asia”, “Best Bank in Treasury and Cash Management in Asia”, “Best Bank in Working Capital and Trade Finance in Asia”, “Best Supply Chain Bank in Asia” and “Best Transaction Bank in Asia” will be announced at the end of April with Deutsche Bank shortlisted for every one of these awards. Watch this space.
For full details of the Deutsche Bank win, please click here.