BNP Paribas, the European Association of Corporate Treasurers (EACT), PwC and SAP have launched ‘Journeys to Treasury’ (JTT), a report that is designed to help professional treasurers build their own journey to the future of treasury.
The first edition of JTT addresses three key topics for corporate treasurers: continued innovation; anytime, anywhere treasury; and cybercrime and fraud. Trends such as blockchain, fintechs, immediate payments and big data are covered in joint insights of the bank, the industry association, the consultant and the software vendor. JTT will be conducted on a yearly basis.
While discussing how fintech players contribute to innovation and how a collaborative approach with banks and corporates is the key to success, the report imagines the potential of blockchain not only within the financial sphere, but also beyond, such as for smart contracts, for example. JTT also addresses the role of big data in forecasting and payments, and provides corporate examples of how it is currently used. Also focusing on 24/7 and mobile treasury, JTT looks at real-time payments and analyses the benefits they bring to corporates, while addressing industry-driven initiatives such as SWIFT gpi within the ‘anytime, anywhere treasury’ section.
Finally, the report discusses the present and future of a major and shared concern for corporates: cybercrime and fraud. In the face of ever more sophisticated cyberattacks, companies are becoming increasingly aware of the fact that it is not if they will be attacked, but when. As instant and mobile payments increase the risk, the report ponders whether technology alone has the power to curb future threats.