Back to the Future

Published: December 17, 2025

Back to the Future
Tom Alford picture
Tom Alford
Deputy Editor, Treasury Management International

Top TMI Articles of 2025

What were the top treasury themes of 2025? TMI presents an end-of-year round-up of the most-read articles in case you missed them first time around, or fancy another look.

As 2025 draws to a close, a good way to assess the interests and concerns of the treasury community over the past 12 months is to gather a list of the articles that garnered the most clicks during the year. Of course, TMI always endeavours to capture the mood of treasurers across the globe, no matter how volatile the financial world may seem, nor how fast certain themes evolve.

Sometimes we stick our neck out, covering particular topics in anticipation of their imminent importance, either directly or indirectly, to the treasury community. These may be viewed as primers for emerging topics. But it’s equally fair to note that many TMI articles do tap into the most pressing challenges and opportunities that treasurers, FIs, vendors, advisers and other stakeholders are tackling today.

So, with that in mind, here is a ‘selection box’ of some of the most popular articles of the year. They are accompanied by others that we feel may have even more to offer second time around. All represent themes that we feel will be carried through to 2026 and beyond.

Top Articles of 2025

Anyone who ever thought treasury technology was a passing fad or something to be avoided should perhaps take a look at the article on the topic of embracing technology. Those who already understand the importance of technology might also find support in the face of budgetary resistance here!

While technology is a key element of progress, it’s not all about rapid adoption and Big Bang deployments. This piece on the importance of the considered evolution of treasury demonstrates the value of sidestepping the buzzwords while systematically seeking out what really matters. It’s not necessarily the latest toys.   

Geopolitics became the word of the day, every day, in 2025. How to bridge regional and global operations in a tumultuous world is the theme of this article, with the new realities of relationships across the pond given due consideration by those who see both sides. 

Talking of seeing it all, this year has seen AI breaking new ground in all aspects of life. In this article, we lined up a couple of experts to share their views on how AI technology is specifically impacting treasury, and more importantly, what opportunities, if any, it is creating.

The emergence of AI is not without its caveats, and in this story, governance and bias concerns were pondered alongside its many positive aspects. As with most things, balance is the key.

Tokenised payments too have been ramping up the interest. Forget the Wild West of Bitcoin –  there is so much more to digital money than that. We asked an expert for an explanation of what it all actually means in the real world of corporate treasury.

While some technologies seem to be gathering momentum, whether we like it or not, others are acting as an anchor on progress. We published this piece looking at the way treasurers who are beholden to emails are being held back. Time for a communication channel rethink, maybe?

At the opposite end of the technology involvement scale, in-house banking came under scrutiny, with a technologist and a treasurer exploring the pleasures and pains of setting up and running such an operation. There’s good and not-so-good news herein.

Case studies always go down well with readers. This detailed look at how Chinese multinational Haier integrated Italy-based Candy into its group structure using notional pooling gives a flavour of the level of ingenuity leveraged by treasuries around the world. It also demonstrates the level of commitment required to get a project of this size over the line.

The role of sustainability in treasury is written all over this piece with Tideway’s issuance of a blue bond. As the first corporate issuer of a public sterling blue bond, there are many important lessons to be learnt here. It’s a perfect example of how some organisations are intent on leading the way.

It’s clear that ESG elements should now be considered as fundamental risk mitigants for business operations. This article ponders the wider themes of sustainability, looking at how everyday treasury operations can make a positive difference.

Personal profiles are another great source of interest for the TMI readership, and this piece with Jason Murphy, a former President of the IACT, reveals how giving back to the community is often to the fore in treasury. 

TMI is not averse to revisiting themes from time to time, exploring how they have developed over the years. In this Q&A blog, we asked a legal expert to talk us through how treasury functions are exposed to money-laundering risks, how recent changes in this space will impact most businesses, and what can be done to mitigate those risks.

In the final moments of 2025, ISO 20022 began in earnest transforming global payment systems and the interactions between all stakeholders in the financial services sector. This article laid out the most important issues for treasurers to consider, unpacking some of the more arcane technicalities in the process.

Of course, there were many more articles, podcasts, webinars, conference reviews, whitepapers, special publications, and reports published by TMI throughout 2025. Somewhat surprisingly, the most-viewed article of the year, with more than 2,000 visitors, was an article first made available in 2013. It looked at strategic approaches to multi-banking. With concentration risk in mind, does this signal that the era of bank consolidation is at an end? Whatever it indicates, it underlines the fact that some ideas persist, and that all themes warrant the occasional revisit if we are to keep in the moment. Let’s see what 2026 brings…

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Article Last Updated: December 17, 2025

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