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In a first for the Bank of China, the financial institution has linked up with its first foreign bank for interbank cashmanagement of a corporate client. The first corporation to benefit from the tie-up is Bosch China. “The
The year 2024 brings a landscape of unprecedented challenges and opportunities for corporate treasurers. From the ongoing global conflicts to the lingering effects of high inflation, corporatefinance professionals are gearing up to navigate an environment marked by volatility and uncertainty.
Today, the corporate treasury team plays a critical role helping companies navigate a business environment rife with economic uncertainty, geopolitical risks, regulatory change, trade tensions and supply chain disruptions. These innovations are empowering treasury teams to optimize cashmanagement, reduce costs, and drive business growth.
“There is clearly a lot that corporate treasurers are worrying about and focusing on.” ” Corporatecashmanagers may not be able to control many of those challenges, like ongoing geopolitical instability resulting in trade tensions and financial market volatility, or the rising threat of cyberattacks.
One of the products of that is that cash is again king, as it was in the ’90s.” Corporates are hoarding cash, and that has meant a return to dividends and distributions but also more conservative cashmanagement. Flexibility, he advises, is key to warding off restrictive rigidity.
Corporatefinance executives seem to be readying for real-time payments, preparing to adopt faster payment capabilities and bracing for changes to their cash flow management strategies as a result.
Corporates may not be adopting faster and real-time payments technologies as fast as consumers, but that doesn’t mean the acceleration of payments isn’t impacting corporatefinance. Real-time payment capabilities enable businesses to take advantage of faster currency conversions and real-time FX rate management.
The company announced Tuesday (July 24) that its Oracle Banking Virtual Account Management solution is now available to corporate banks. The solution aims to simplify banking for businesses with multiple bank accounts in multiple currencies.
In this week’s Data Digest, we take a trip around the world to uncover the evolving habits of business payments and cashmanagement. 42 percent in cost-savings could potentially hit banks if they adopt Ripple’s distributed ledger network and XRP digital currency to fulfill cross-border payments for their clients, according to Ripple.
FAB also launched a sustainability-linked current account for businesses to support clients in achieving environmental, social and governance objectives by contributing to sustainable developments, integrated into their everyday cashmanagement and a sustainability-linked supply chain finance offering.
RPA is igniting chatter in the corporatefinance community as professionals explore next-level analytics and automation functionality to enhance processes like accounts payable, accounts receivable, cash flow management and more. Below, PYMNTS breaks down the more than $912 million raised by B2B FinTech firms this week.
.” According to reports, the solution is part of LG’s broader initiative to deepen its presence in the digital currency, authentication and supply chain management space as blockchain moves to disrupt them. Reports said LG is also preparing a digital currency business developed in collaboration with banks.
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