Treasury and Cash Management Providers 2020

Low interest rates, international trade disputes, economic slowdown, geopolitical risks and diverging regulatory require corporate treasurers to provide greater visibility and control of their cash.

For banks to remain the first choice for corporate clients, it’s important they invest in the right technologies to solve customer pain points. “We’ve had a real focus and concentration on better analytics, specifically associated with what our clients are doing with us on a day-to-day basis to be able to track, monitor and recognize trends, issues and activity,” says Mike Bellacosa, Global Head of Payments and Transaction Services at BNY Mellon.

Greg Kavanaugh, head of Global Product Management, Global Transaction Services, Bank of America, says the potential that digitization offers by way of data is huge. “There are even more-significant benefits than speed and paper reduction. With the right infrastructure in place, digitization has the power to transform a company’s treasury operations. It can give a company the intelligence that will help them optimize their operations. Data points could be fed into artificial intelligence [AI] engines to improve and ‘educate’ the algorithms. These algorithms could then provide dynamic advice and insight, automating processes and letting the company make more-informed business decisions, including anticipating cash flow needs or negotiating better contracts. We’ve yet to see the full value of digitization. That’s a very exciting prospect for every company of any size.”