Contents GLOBAL PERSPECTIVES 22 A future proof payment system? SSC PERSPECTIVES 6 2018: the outlook for treasury 36 Treasury is dead: long live treasury? As you read this, already things are If SSCs continue to automate more and shifting and changing dramatically in the more processes and the Global Business business and financial environment, and Services models are gaining in popularity in particular in technology. That’s the with large multinationals and global nature of change these days. So rather companies, why doesn’t treasury just than tell you the interest rate outlook or succumb to the rule of the shared services the views on dollar/euro, we offer some centre? Well, for some treasuries, this is key trends that EuroFinance believes will the current path. help to guide a longer term strategy for businesses and their treasuries. The SWIFT/Ripple battle in the payments landscape is just one story. If your business creates a high volume of low value payments, what about Global ACH 2.0 as an answer? CAREER PERSPECTIVES INTELLIGENT PERSPECTIVES FINTECH & BANKING PERSPECTIVES 38 It’s treasury Jim, 10 i-Treasurer 24 T ailored treasury: the promise of but not as we know it AI is not something for the future, it is bank and FinTech innovation If nothing else, treasury has maintained something in use in a variety of financial a consistent mantra for the past 10 years: services and transactions. Its potential to automate, do more with less and use impact all things financial will continue to technology to drive efficiency. Will that grow, and rapidly. What will that mean for path eventually put treasury out of a job? treasury specifically and how far off are the ambitious advances? FinTech companies are targeting unwieldy, archaic processes and revolutionising how those work. Meanwhile banks are active in innovation too, whether partnering with promising FinTech firms or by changing how they work. We look at just a few examples CULTURAL PERSPECTIVES PAYMENTS PERSPECTIVES in this massive, fast-changing industry. 41 Managing cross-cultural challenges 16 More than just ripples BLOCKCHAIN PERSPECTIVES in SWIFT’s pond Cross-border payments have always 30 The blockchain in practice drawn a litany of complaints about for the treasury mismatches, predictability, tracking and poor remittance data. Both Ripple, the blockchain solution and SWIFT, the incumbent network are working towards solutions. For treasury it is win-win. You might have created efficient, state- of-the-art global treasury solutions, but that doesn’t mean they will be easy to implement. In a series of interviews, Is this the year of the blockchain? Pilot leading multinationals reveal how projects abound. But what products treasury policies are understood and actually exist and how do they benefit implemented depending on location and companies today? how to overcome resistance. www.eurofinance.com TREASURY PERSPECTIVES 2017/2018 // 5