As the possibilities of real-time treasury become clear and the era of open banking begins, TMI’s Editor, Eleanor Hill, interviews Lothar Meenen, Global Head of Corporate Cash Management Sales at Deutsche Bank, to discuss how treasury departments will need to continue to evolve.
Eleanor Hill: Over the past decade, a barrage of regulatory changes, together with centralisation and efficiency projects handed down by head office have left ever-leaner treasury teams with very little room for manoeuvre. Do you think reactivity has had to be the order of the day?
Lothar Meenen: Yes, and I believe it is now time for treasurers to put themselves back in the driving seat. Thanks to exciting developments in technology, as well as innovations in the banking and payments landscape, today’s treasurers have an opportunity build the treasury of tomorrow, while cementing the department’s ongoing importance to the organisation. Achieving this, however, will require treasurers to step outside their traditional comfort zone.
Survival of the fittest
EH: And do you think that some serious misconceptions will also need to be addressed along the way? Not least the fear that there is no future for the treasury department, or that the treasurer’s role will soon become obsolete.