A new survey by Deutsche Bank of over 200 European treasurers and CFOs highlights the renewed vigour with which new payments technology is being adopted in the wake of the pandemic. TMI asks report author, Marion Laboure, Research Analyst, Deutsche Bank, for a quick guide to the findings.
When Deutsche Bank set about producing its study, ‘Post Covid-19: What executives are thinking and doing’, co-author Marion Laboure, Research Analyst, Deutsche Bank, had no pre-conceived ideas of what its respondents might reveal.
However, with more than 10,000 data points collated from more than two hundred CFOs and treasurers from across Europe, although the identifiable trends were not in themselves unexpected, she admits to being “surprised” by some of the numbers emerging.
As an example, although Laboure is well aware of the trend for the centralisation of cash management, she was astonished by the extent to which this is now happening. Around half of all treasurers see virtual accounts as a game-changer for payments and are planning to implement such a structure in 2021, she says. More than two-thirds of executives polled believe a virtual account environment will enable better integration of payments into their core financial systems.
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