Discovering Value in the Latest Treasury Technologies
Taking on topics such as the role of APIs, the optimisation of data management, the power of co-creation, and the reach of the cutting edge, Steven Lenaerts, Head of Global Channels and Digital Onboarding, BNP Paribas, explores the value of treasury’s digital development.
In the last 12 to 18 months nothing has emerged that has seen major steps forward in corporate treasury digital solutions. It’s a provocative statement, given the amount of hype in the industry, but for Lenaerts, the focus has not been on “moon-shots” – the dramatic events that change the way we think – but on a more subdued but still innovative use of technology.
Indeed, if innovation is stripped back to its leanest form of simply meaning improvement, then there certainly have been steps in the right direction in treasury. The Covid-19 pandemic exposed a number of weaknesses that led to rapid reflection and discussion on how to improve and be better equipped. It was a discussion that extended far beyond treasury. This, says Lenaerts, drove a number of material developments, including but not exclusively based on the use of technology.
Digging deeper for value
Technology is just “an enabler of innovation”. It opens up the opportunity to make improvements, but in and of itself is neutral, states Lenaerts. What’s more, it must go through a number of phases before it adds tangible value. These range from discovery to hype, adoption, and finally scaling up.