Corporates of all sizes face unprecedented change in the payments landscape – tougher regulatory reporting requirements, harmonisation initiatives such as the Single European Payments Area (SEPA), the challenge of maintaining and optimising liquidity, and managing the risks inherent to spreading and increasingly-complex cross-border supply chains.</p> The successful navigation of such hurdles requires innovation – in finding new ways of accomplishing treasurers’ age-old tasks, and partnering with a bank that can provide a sophisticated payment platform infrastructure that underpins modern commerce.</p> Evolving needs</h3> Technology is now considered a prerequisite, and to be effective it must anticipate, respond to, and mature in line with client needs. For example, as corporates look to rationalise their accounts and relationships, as part of risk and cost management, many are looking to work with just one bank to provide high-value, high-urgency payments and low-value, less time-critical transactions.</p> Working with a single financially-solid banking partner with one platform can help achieve cost efficiencies – by avoiding the multiple maintenance fees that come with holding multiple accounts, in addition to benefitting from greater process efficiencies and enhanced transparency over both cash and data flows. Transparency is vital for reporting requirements and cash optimisation.</p> Investing in the future</h3> Meeting current demands isn’t enough. Proactive banks are investing in the future of payments; committing to a flexible platform that can expand and adapt to emerging trends and requirements. A system with the capability to plug in new features – and even additional direct clearing methods where there is the opportunity or demand – as the payment space evolves, is important to surviving in this progressive payments environment.</p> By having a platform that can combine the best features and functionalities into one payments hub, significant operational efficiencies can be gained which can lead to transactions being processed at a lower cost – a benefit that can subsequently be passed on to clients. Such a system also ensures clients experience the same features, functionality and enhancements regardless of their geographical location or domicile. This architectural approach also significantly reduces the time to market on new services, and ensures continued cross-border cohesion.</p> While such capabilities should be provided in tandem with expertise, market and industry guidance, it is only by investing in forward-thinking platform technology that the banking community will be able to support clients’ demands both now and in the future.</p> This article first appeared in Der Treasurer.</em></p>