Big overlaps All these companies all offer different COOL INNOVATION FROM DBS BANK ways to achieve an overlapping set of functions: to replace expensive or slow Ever wondered how fantastic it would be Treasury Prism. The platform has been money transfer services, to provide, gate- to automatically model your current cash further developed with rigorous client way, and payment acceptance capability and liquidity structures, discover how feedback and it’s now at delivery stage. and, in some cases secure PCI DSS com- optimal they are and then get recom- pliance. In the case of a company like mendations, also automatically, on how The result is a well-designed tool that PaySimple, these core functions are to achieve a better solution? Singapore- eliminates time challenges that treasury wrapped inside an integrated automatic based DBS bank, fast gaining a name for faces when trying to map out an optimal billing and e-invoicing system. It, and itself for its innovation in customer offer- cash management solution. It also quan- others, also provide APIs for the develop- ings, has developed a digital simulation tifies the cost and benefits of a new cash ment of additional services such as build- platform called Treasury Prism which solution which means that it in effect it ing an online store. does just that. can produce a compelling business case In most cases, the solutions are designed to for change. Also given Asia’s fast-chang- solve problems encountered by merchants DBS Treasury Prism takes into account ing regulatory environment, rather than in their online channels, especially smaller regulatory and tax changes in each rely on external help to navigate complex companies without the expertise or infra- country where a customer might have and rapid changes, Treasury Prism takes structure to develop their own systems. business operations and what is possible those into account as they happen. The in terms of treasury and cash manage- resulting visualisation of account and So Payoneer provides international pay- ment solutions in each market. You can liquidity structures across markets that ments capabilities for companies that do compare optimised accounts in order to Prism delivers is also helpful in securing business with multiple small vendors or find the best solution to realise cost-sav- cooperation across the business and just marketplaces (like Airbnb) cross-border. ings and optimise liquidity and save makes it easier to see what can work best The beneficiary simply opens a Payoneer from net debt reduction. An optimisa- for treasury. account and retrieves the money in the tion score, derived from an algorithm currency preferred via a card number or factoring in tax, yield, banking and cor- “Treasury Prism supports a treasury’s bank account transfer. porate costs, allows you to compare and current and future needs in a conveni- contrast various strategies. ent, efficient and value-rich way that Similarly, Transferwise, which started out also allows benchmarking of solutions,” as a consumer payments platform, has EuroFinance saw early versions of the says Iain Taylor, Managing Director launched a B2B payment service as well as platform many months ago and were and COO, DBS Global Transaction a batch processing service for multiple impressed at both the concept and how it Services. “This is a single source of invoices. As yet, it is a small player that was being developed. DBS formed a mul- advice and information to help treasur- uses a peer-to-peer methodology to exe- tidisciplinary squad to work with 70 cur- ers optimise cash management.” cute at the mid-market rate. This means rent and prospective clients to understand that it cannot guarantee a time frame for their banking and cash challenges. The Best of all Treasury Prism is bank agnos- transactions (quoting between one and group identified five critical areas from tic, enabling treasurers to independently four days) and there are various other time challenges to regulatory constraints model structures whether a DBS client or limitations in the service which make it in order to design the functionality of not. And, it is free. useful only for the smaller SMEs. Stripe provides e-commerce merchant payment services through open API development as well as competing with firms like Braintree and Cybersource as a gateway and payments enabler. PaySimple provides automatic billing, e-invoicing, and payment acceptance services, including a device add-on to accept card payments. So it competes with other merchant gateway and ser- vices providers. And some companies attempt to add value by helping to maximise consumer purchases. So Klarna, for example, extends instant credit for online pur- chases to consumers without them hav- Explore optimised simulations ing to provide payment details. A A s ummary of your current simulation is displayed on the simulation bar. Solutions for SMEs B T reasury Prism generates multiple potential solutions based on your balances Small and midsized businesses who want and flows, and displays these simulations by highest benefit score. If you have a to expand internationally, but have no preferred criteria, you may filter the simulations accordingly. infrastructure for making or receiving C S elect up to 4 simulations and compare with your current simulations. international payments, can choose from www.eurofinance.com TREASURY PERSPECTIVES 2017/2018 // 25