How Treasurers are Making the Most of Instant Payments
Instant payments is a topic that receives plenty of coverage, often under the assumption that everyone wants and needs it. Is this really the case for treasurers, and if so how and where does it fit? TMI spoke to Louis-David Rouyer, Deputy Head of Payments and Cash Management International Network, Societe Generale, about the pace of progress and the broader impact of real-time payments.
Instant payments as an idea is simple to grasp: it’s about processing speed. It’s a highly desirable attribute for most users, but in a treasury context, speed must be augmented by secure and smart processing, states Rouyer. At a technical level, this means the application of solutions such as AI-based fraud detection, tracking and tracing, and enhanced forecasting capabilities.
The broader objectives made achievable by instant payments infrastructures has generated a number of new paradigms for businesses to consider, he notes. Not least is the efficacy of internal and external communication channels to ensure enterprise-wide visibility, accessibility, accuracy, and timeliness of data. It is, he feels, a matter of finding a collective will to move to real-time payment processing, and then taking bold steps forwards to ensure the concept is optimised for all stakeholders.
In an environment exhibiting an increasing focus on corporate costs, intensifying competition, global market uncertainties, the persistent threat of fraud and cybercrime, and regulatory change, treasurers are compelled to regularly review their priorities as part of the effective monitoring of their cash and liquidity positions, says Rouyer.
Sign up for free to read the full article
Register Login with LinkedInAlready have an account?
LoginDownload our Free Treasury App for mobile and tablet to read articles – no log in required.
Download Version Download Version