Top 5 most common pain points in Treasury

14-02-2020 | treasuryXL | Michael Ringeling

The purpose of Treasury is to manage a company’s funding, liquidity and to mitigate its financial and other risk. Made up of three sub-disciplines, Treasury’s overall objective is to safeguard the company’s holdings and to follow the long-term strategy set forth by Corporate Finance (and strategy). Cash Management, on the other hand, is primarily focused on operational, short-term, efficiency and process optimisation, whereas Risk Management is oriented towards financial research and operational controls.

Michael Ringeling, corporate treasury expert,  made a top 5 of the most common pain points he encounters in Treasury, including consequences and a solution.

Top 5 of the most common pain points in Treasury


  1. Too many bank accounts at too many banks

Complex to manage, poor control, higher risk of fraud, higher costs, more KYC/AML requirements

Less bank accounts at fewer banks, all via one or two electronic banking systems or multibank platform to manage payments and cash flows. The result will be more efficient, more secure and more cost-effective payment transactions, reporting and reconciliation into the ERP system.

  1. No reliable cash flow forecast

Poor liquidity management. Insecure about the required short and long term funding and poor management information.

A good cash flow forecast, providing adequate insight in the organisation’s short and long term cash flows, will contribute to an efficient funding strategy and lower cost of funds.

  1. FX results, (negatively) impacting the company’s P&L

The company’s financial results are impacted by unforeseen and unknown FX results

FX risk management analyses, create a FX policy and perform deal execution (hedging) to control FX results

  1. New Loan Agreement needed – negotiations

Difficulties in assessing if the loan terms and conditions are fair. Risk of overpriced loans and/or unfavorable terms and conditions required by the bank(s).

Assist the company when negotiating with the bank(s) to get a fair deal with terms and conditions that will not unnecessary limit the company’s flexibility.

  1. Cash is trapped on too many stand alone bankaccounts around the world

Company cannot effectively use a significant amount of cash, resulting in higher (short term) loans and higher interest costs.

Implementation of a cross border cross currency cash pool to centralise the company’s cash balances. As a result the amount of local trapped cash will be reduced and that cash can be used for general corporate purposes. Less short term loans and lower interest costs.

Sounds familiar?

Do you recognize the pain points that we mention above in your business? Or are you experiencing other critical treasury pain points in your business?

In our active network there are several treasury experts who can offer treasury support. They can be hired for specific projects or on a regular basis. Check Rent a Treasurer and let us help you.


Michael Ringeling

Corporate Treasurer Expert

Inflation Data for EURUSD

13-02-2020 | treasuryXL | XE |

Markets have once again turned risk averse overnight, with the Chinese city of Hubei the latest outbreak focus. With a European tech conference cancelled, as well as fears in South Korea and Japan. The medium and long-term impacts are still non quantified. Currency markets do not like uncertainty.

And so, the now go-to bellwether currency is the USD, which moved above the psychological level of 99.00 which has been touted for some days. As a consequence most currency pairs have moved lower against the Greenback. One of the more notable casualties is the most liquid pair – EURUSD. Generally regarded as a low volatility play, it’s has now moved down over 13.5 % in the last two years, and tests key support.

GBPEUR has gained momentarily as a result, and indeed UK importers can be buoyed by a much healthier session for GBP across the board. Risk bearing currencies like AUD, NZD and CAD have all suffered as a by-product, and will be dictated to by Geopolitical fears related to the Coronavirus outbreak.

Yesterday did not help the EUR on the data from with Industrial production numbers much lower than expected at -2.1%, a huge shift. And this fragility for the single currency will today be magnified by German CPI inflation releases. For the EURUSD traded pair, the release of US CPI inflation numbers later in the session could have a similar push/pull impact.

Back to the UK and today we see PM Boris Johnson reshuffle his cabinet, and whilst not significantly market moving; the emphasis will be closely eyed for negotiations with Brussels.

One final thing to note is the release this morning of the RICS house price balance numbers here in the UK. This number has shown a positive swing, the post UK. election decision clearly has people moving on up. Long may it continue.


Get in touch with


XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at, is always in for a cup of coffee, mail or call to provide you detailed information.




Visit XE partner page




Corporate Treasury Specialist as your new role?

12-02-2020 | Treasurer Search | treasuryXL

Are you currently working as a treasury analyst, cash manager or treasury accountant and ready to take your next step? Then this is a must read for you!

Our partner Treasurer Search is looking for a Corporate Treasury Specialist for a multi-billion $ manufacturing company with a global presence.

The Corporate Treasury Specialist will start with a focus on operational tasks like cash management, reporting & analysis whilst managing the group guarantee portfolio and act as EMEA coordinator on trade finance. Gradually she can move forward into projects and other front office tasks. Being able to back up other treasury team members is an embedded expectation. The last decade has shown there are always more than enough challenging corporate treasury projects and successful team members can move forward in responsibilities.

Ideal Corporate Treasury Specialist

The ideal candidate has a relevant degree and one or two career steps in corporate treasury. Her current position could have the job title treasury analyst, cash manager or treasury accountant. She might have experience working in a bank or consultancy, a corporate is more likely. All team members show a constant interest in financial market developments and expect their new colleague to share this. As a person she brings the right balance between being proactive and ambitious on one hand, and being patient and modest on the other hand (team player). Sense of timing and communicating well is key in this, as is non-opportunistic behavior and thorough thinking. Speaking Dutch would be an asset, not a must.

Our Client

Our client is a multi-billion $ manufacturing company with a global presence and both USA as well as Asian influences. The European treasury team is part of a small and stable group holding organisation with several international “rest of world” responsibilities. The team covers a broad spectrum of corporate treasury tasks in corporate finance, cash and risk management. Given a recent major acquisition, the team is co-tasked to integrate the new business on its platforms & protocols during the 2020 -2021 period. Communication with colleagues and external parties from around the world is part of the daily routine. Although the team already performs at a very high level, the world changes constantly and ambitions are high. Further projects are scheduled. Our client works with SAP, including the TR module.

Remuneration and Process

Depending on the track record of the candidate, the base salary will be between €45K and €60K and a bonus plan can be part of the remuneration package. Our client can offer long term career perspectives. The Treasurer Test might be part of the recruitment process.

Contact person


T: (0850) 866 798
M: (06) 2467 9339

Financing a Livable World

11-2-2020 | by Aastha Tomar

If Greta Thunberg doesn’t inspire us, breathing some Delhi air may. While these might have been in news recently, more of this discussion is on social media rather than real action.

Sustainability has thus mostly been associated with activist connotation and, less with real, on-ground impact.

As we evaluate on-ground actions, investments towards such actions become first step and these need to make “financial sense” for investors to flock in. That’s when, I believe, that traditional financial acumen fails us. The foundational elements of investment rationale shall make such investment difficult. Let’s evaluate how –

  1. It’s all about ROI in purely Financial Terms: All financial evaluations are about monetary returns. Such approach is more likely to make Investing in sustainability related projects unattractive
  2. Organizations as going concern: While some projects have started evaluating impact of climate change, organizations are often considered as going concern without climate change & its impact. It’s it a time that we start considering some serious impact of climate change while evaluating cash flow and hence the project IRR.

Of all, these foundation elements make investment capability of capital markets to adapt in disruptive situations, like we are facing now for climate change, difficult. Financial markets, in its prevailing methods, would only consider climate change once its impacts are visible, but that, I guess, would be too late.

Having worked in Debt capital markets (DCM) my first reaction was to search of how DCM is contributing in sustainability and this led me to know about a beautiful concept of green bonds. The bond by their very name “green bonds” click into mind that there is something related to sustainability in it.

Green bond principles, intended to provide a framework for debt funding for projects which shall contribute to sustainability, is a step in the right direction. It has been framed with four core pivotal elements –

  1. Use of Proceeds
  2. Process for Project Evaluation & Selection
  3. Management of Proceeds
  4. Reporting

It’s the use of proceeds which sets apart green bonds from regular bond issues. The eligible projects for such issuance should be from around ten categories including renewable energy, energy efficiency, pollution prevention and control, green buildings etc.

A cumulative $580 billion of green bonds were sold through 2018, according to Bloomberg New Energy Finance. According to climate bond initiative in quarter 3 of 2019 itself USD 6.2 bn worth green bonds were issued worldwide, which is 87% up YoY. There were 139 issuers from 32 countries. There are many issuers joining the race and many nations as well. European nations being the ones taking the lead.

Though figures for green bonds may seem encouraging when we see them standalone but when compared to the global bond markets which are more than USD 100 trillion market, green bond market is hardly a fraction of it. Europe alone needs about 180 billion euros ($203 billion) of additional investment a year to achieve 2030 emission targets set by the European Union in the 2015 Paris Agreement on climate change.

In nutshell, green finance initiatives are steps in right direction but need more muscle and speed to enable actions on ground.

What are your thoughts?

Aastha Tomar

FX & Derivatives | Debt Capital Markets | MBA Finance
Electrical Engineer | Sustainability

Crowdfunding, the Pros & Cons

10-2-2020 | by Rowan Hermes | Ilfa Group

There are advantages and disadvantages to each type of financing, for both entrepreneurs and investors. Crowdfunding is perhaps the most popular way of alternative financing. Entrepreneurs ask a large group of people to support their company by investing a small amount. These small investments represent full financing for the company. What are the Pros and Cons of crowdfunding?    In this blog, written by our partner ILFA, the advantages and disadvantages of crowdfunding are outlined. 

Blog is in Dutch language:

De voordelen voor ondernemers

1.       Marketing

Een belangrijk onderdeel van crowdfunding is marketing. Een onderneming krijgt een platform om zich te presenteren aan een grote groep potentiële investeerders, de crowd. Als een onderneming de crowd aan zich weet te binden, hebben ze naast financiering ook ambassadeurs voor hun onderneming. De investeringen dragen uit dat de crowd vertrouwen heeft in de organisatie en goede communicatie zorgt voor een grote betrokkenheid van de crowd.

2.       Snelheid

Banken hebben vaak weken of maanden de tijd nodig om een kredietaanvraag te beoordelen. Crowdfundingplatformen doen dit veel sneller, over het algemeen binnen één week. De funding zelf gaat vaak ook erg snel, binnen enkele dagen kan het geld al beschikbaar zijn. Sommige projecten worden in een aantal maanden gefund. Hoe lang het precies duurt ligt aan verschillende factoren, bijvoorbeeld het project zelf, interesse van het publiek en de markt.

3.       Zekerheden

Banken geven niet vaak krediet aan ondernemingen zonder zekerheden. Bij crowdfunding werkt dit anders, de financierbaarheidsbeoordeling wordt gebaseerd op de kwaliteit van de onderneming. Dit maakt crowdfunding voor startups zeer aantrekkelijk. Wel moet de ondernemer privéborgstelling afgeven en zich zo privé aan de investering verbinden.

4.       Capaciteit

Het kan gebeuren dat een bank een financieringsaanvraag afwijst. Als de ondernemer vervolgens geld via crowdfunding ophaalt, wil de bank ineens wel financieren. Door de totale financieringsbehoefte op te halen bij meerdere bronnen, wordt de financieringslast per verstrekker lager en zo wordt het aantrekkelijker om mee te financieren. Het combineren van financieringsvormen wordt ook wel stapelfinanciering genoemd.

5.       Innovatie

Banken zijn vaak niet happig op het financieren van innovatie. Niet bewezen concepten vormen namelijk een risico. Als een ondernemer de crowd achter zich weet te scharen, kan zo financiering opgehaald worden en bewezen worden dat het innovatieve idee potentie en toekomst heeft.

De nadelen voor ondernemers

1.       Openheid

Op een crowdfundingplatform moeten organisaties zich compleet blootgegeven. Investeerders verwachten veel informatie over de onderneming en de ondernemers. Voor de investeerders helpt deze openheid om een goede keus te maken wat betreft de inleg, maar voor sommige ondernemers is openheid in deze mate een brug te ver.

2.       Stabiliteit

Crowdfunding is een relatief nieuwe manier van financieren. Hoewel er veel platformen zijn die al veel aanvragen succesvol afgerond hebben, blijft het onduidelijk hoe stabiel crowdfundingplatformen zijn in de toekomst. Ook is het niet altijd makkelijk om goede platformen te onderscheiden van de malafide platformen.

3.       Rente

De rente die betaald moet worden over een crowdfundingfinanciering lijkt vaak hoger dan de rente die bij een bank betaald moet worden. Hoewel deze vergelijking niet altijd opgaat, wordt crowdfunding duurder geschat dan een bancaire lening.

4.       Borgstelling

Dat een ondernemer privéborgstelling moet afgeven, is vervelend in het geval van een faillissement. Er kan dan namelijk aanspraak gemaakt worden op het privévermogen van de ondernemer. Ondernemers kunnen niet onder deze privéborgstelling, omdat ze vaak geen zekerheden kunnen bieden.

De voordelen voor investeerders

1.       Risicospreiding

Een investeerder bepaalt zelf hoeveel geld naar een bepaalde organisatie gaat. Investeren is mogelijk vanaf een relatief laag bedrag en de totale investering van een persoon kan makkelijk verspreidt worden over verschillende projecten. Dit zorgt voor een betere risicospreiding en lagere risico’s in het algemeen.

2.       Flexibiliteit

De investeerder bepaalt bij crowdfunding in welke organisaties geïnvesteerd wordt. Dit is bij investeringen via banken of beleggingsmaatschappijen anders, dan wordt bepaald waar geld in geïnvesteerd wordt. Crowdfunding is zo voor investeerders een makkelijke manier om organisaties te steunen waar zij vertrouwen in hebben en waar zij achter staan.

3.       Binding

Vaak wordt door investeerders lokaal of regionaal geïnvesteerd in organisaties waar binding mee gevoeld wordt. In ruil voor de investering worden investeerders van ontwikkelingen op de hoogte gehouden. Zo wordt de band in stand gehouden en ontstaat er een gevoel van samenzijn.

4.       Teruggave

Op regelmatige basis ontvangen investeerders rente en aflossing. Ook is het rendement vaak goed bij crowdfundingprojecten, omdat de risico’s over het algemeen wat groter zijn.

De nadelen voor investeerders

1.       Bereikbaarheid

De investering zit in de organisatie en is niet direct opeisbaar. Als alles goed verloopt, zal de investering zal pas aan het einde van de looptijd volledig terugbetaald zijn. In de tussentijd ontvangen investeerders rente en aflossing, maar het kan een tijd duren voordat zij hun investering terug krijgen.

2.       Risico

Vaak kiezen innovatieve organisaties of startups voor crowdfunding en bij deze organisaties is het risico op faillissement hoger dan bij gevestigde organisaties. In het geval van een faillissement, wanneer een organisatie de financiële verplichtingen niet kan nakomen, lopen investeerders het risico hun inleg kwijt te zijn.

3.       Platformen

Dat crowdfunding een relatief nieuwe financieringsvorm is, betekent dat de wet- en regelgeving niet altijd duidelijk en volledig is. Niet elk platform is even betrouwbaar en investeerders moeten goed kijken via welk platform zij willen investeren, zodat ze zo min mogelijk risico lopen.


Does your business need a DNB license? You need to take these 8 steps

07-02-2020 | treasuryXL | Enigma Consulting

Anyone that provides payment services in the Netherlands must either hold the appropriate licence issued by DNB or be excepted or exempted from the licensing requirement. A payment service provider may start operations only after DNB has issued its licence or after it has entered the provider in the register as an exempt payment service provider, unless it is excepted from the licensing requirement by law.

Do you need help in your DNB License application process?

The consultants at Enigma are highly experienced in license applications. Their clients often have widely divergent reasons for applying for a licence. For example:

  • Innovative companies that wish to utilise the opportunities offered by new payment rules for account information services and payment initiation services, such as fintech businesses and accounting software providers.
  • UK-based businesses that have decided to apply for a license in the Netherlands and to serve Europe from here because of the consequences of Brexit.
  • Asian and American companies that wish to use the Netherlands as a base for setting up their worldwide Payment Gateway.
  • Companies that can no longer utilise exceptions that were possible in PSD1 because of PSD2 and are therefore applying for a license to operate as a payment service provider.

Enigma has a multidisciplinary team, which offers the benefit of us being able to offer all areas of expertise required for license applications. The result is an application of which all elements meet the quality criteria of the supervisory body, which means a quicker assessment and granting of a license by the DNB.

You no longer need to be a bank to offer payment services. The Dutch Act on Financial Supervision applies in the Netherlands for the purpose of increasing competition and protecting consumers. This law makes it possible for payment institutions to offer payment services.

The law differentiates between 8 different types of payment service providers.

There are the classic payment service providers and electronic money institutions, but since the introduction of the PSD2 European payment guideline, there are also newer variants of account information service providers (AISPs) and payment initiation service providers (PISPs). Payment services offered include the administration of bank accounts, the transfer, deposit or receipt of funds, or the issuing or acceptance of payment instruments (such as cards).

So when is a licence required for a service? And what are the criteria that must be met?

A successful licence application for each type of payment institution is a question of thorough preparation and adequate quality assurance.

The steps required for an efficient, successful application at a glance:

1. Check whether a licence is required to offer the service

A payment service does not necessarily require a licence. Exceptions include services in which payment is made with a payment instrument with limited options for use. Neither is a license required if transactions take place in cash only and no bank account is involved.

2. If a licence is required, check whether an exemption applies

If step one indicates that a licence is required, check whether exemptions apply. A number of conditions need to be met in order to make use of that exemption. We have listed 3 below.

  1. Payment services are intended exclusively for people living in the Netherlands
  2. The monthly volume is less than 3 million Euros
  3. Asset segregation is managed by means of a trust account, bank guarantee, or comparable guarantee

If the conditions for an exemption appear to be met, then this also needs to be applied for from DNB. This application is also subject to considerable requirements. If these requirements can be met and the application for a licence has been submitted, the DNB will assess whether an exemption should be granted. If so, they will enter the exempted payment service provider into the public register.

3. Prepare the file and make the necessary organisational changes

Having completed the first 2 steps, it is clear that a licence is required and that the service does not qualify for an exemption. In that case, the payment institution must meet various criteria to be able to offer its services. These include:

  1. Demonstrating the reliability and suitability of policy makers
  2. The integrity of the company’s operations
  3. Controlled governance
  4. Surety of the funds
  5. Evaluation of the day-to-day policy makers
  6. Minimum equity and solvency requirements
  7. No Objection certificate

This is about managing operational processes and business risks, such as safeguarding the funds of the payment institution’s clients. Policy and procedures, such as a client acceptance policy, transaction monitoring, a compliance charter, and a procedure for reporting irregular transactions need to be formulated. In most cases, a ‘risk management’ policy needs to be formulated and a risk & compliance officer needs to be appointed.

4. Submit the application to De Nederlandsche Bank

All the supporting documentation for the application then needs to be submitted to the DNB. The application form that must to be completed and signed serves as the basis. The DNB decides whether to grant a licence within three months of receipt of a license application from a payment institution. Note that the three months only start once all the necessary documentation has been received. There are costs involved in applying for a licence from the DNB.

Enigma Consulting’s experience is that the DNB usually asks various questions and that the lead time for a licence application normally exceeds 3 months.

5. Implement the new policy and corresponding procedures in the organisation

When compiling the file, the implementation of specific policy and corresponding procedures in the payment institution is already a big step. Ensure these activities have actually been implemented by the company before the licence is granted. Do not underestimate this process, because depending on the size of the organisation, this step can be moderately to very resource intensive.


Thanks to Enigma Consulting’s extensive experience of the application procedure and short lines of communication with DNB, they can advise and support you in each step of the application process, whether it involves an application for an exemption, or a licence for a payment services provider, electronic money institution, account information services provider, or payment initiation services provider.

There is also the option of temporary deployment of a risk & compliance officer to share best practice and train your staff internally. Enigma possesses considerable experience in all stages of the application process. They can assist you in compiling the file and in setting up your organisational processes.
Contact Enigma Consulting with no obligation if you would like to discuss your objectives.

Geert Blom
Senior Consultant at Enigma Consulting

Why your Business Needs a Long-Term Strategy to Mitigate Against Currency Risk

06-02-2020 | treasuryXL | XE |

Market volatility puts your business’ profitability and cashflow at risk to adverse movements in the currency you are exposed to.

Many businesses, particularly at the smaller end, are not aware they have an exposure to foreign exchange risk. Or, if they are, they may have never quantified the size of the risk they face.

Currency market exposure comes in different forms. Any business selling goods and services overseas will be concerned that a rise in the value of the US Dollar could damage their competitiveness in those markets. Conversely, if you’re importing anything from overseas, a fall in the value of your local currency will make those imports more expensive.

FX markets are difficult to forecast at any time, but even more so when you look beyond 6 months. While economists and market commentators can predict all they want, the reality is they never get it consistently right which makes relying on forecasts a risky strategy for your business.

How your business can mitigate against currency risk

Your best bet in combating the uncertainty that comes with fluctuating exchange rates is to have a long-term FX strategy in place.

An FX strategy involves paying attention to and managing risk, and ensuring your business has the right mix of products and services in place to help reduce your exposure to market fluctuations.

This is where working with a trusted international payments provider, like XE, comes into play. The right provider will be able to work with you to develop a strategy and will advise on the most suitable products and services to deliver favorable outcomes to your business’ profitability.

Ready to learn more?

A team of Foreign Exchange Specialists at XE have compiled an essential FX guide for US businesses – stepping you through the three key factors to understand about foreign exchange and how it affects your business, so you can make an informed choice when selecting the right partner to help you manage your international payments and mitigate against FX risk.

Get in touch with


XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at, is always in for a cup of coffee, mail or call to provide you detailed information.




Visit XE partner page




Your next adventure as Treasury Innovation Consultant

05-02-2020 | Treasurer Search | treasuryXL

The interesting and challenging role as Treasury Innovation Consultant is still available. Do you want to fly the world and do ‘something different’? Take the deeper dive…

The treasury innovation consultant has close contact with the solution developers and builds bridges between bankers and corporate treasurers. He travels the world and takes care solutions are properly implemented and users will use the application successfully. Everything he learns he takes back home so the next generation solutions will be even better.

Ideal Treasury Innovation Consultant

This is not a job for the 9-5 type who is looking for predictability. The ideal candidate for this position has thorough understanding of the operational and strategic tasks of a corporate treasurer. Most likely he works or worked as a treasurer or treasury consultant. As a person he is a spirited treasury technology communicator with an entrepreneurial mindset. He likes regular (short) business trips and understands his current role might be different from the one he will have in one year.

Our Client

Our client will create a new market in the landscape of corporate treasury and banking technology. The successful start-up has very strong investors, the first very prominent & international clients are landed and they are about to make the next step in standing on their own feet. The start-up entrepreneurs are leading the company by example and have a strong record in relevant professional fields.

Remuneration and Process

This role is for one of the first employees to go out and meet clients and build the company. The base salary depends upon track record of the candidate, our client is open for a young, flexible potential and a medior with more experience. The Treasurer Test might be part of the recruitment process.

Contact person


T: (0850) 866 798
M: (06) 2467 9339


Conference “Toekomst Betalingsverkeer” returns in April 2020, Future of Payments

04-02-2020 | treasuryXL | Kendra Keydeniers |

Euroform will host the 21st edition of the Conference “Toekomst Betalingsverkeer” on 7 April, 2020 at the Beurs van Berlage in Amsterdam. “Toekomst Betalingsverkeer” is a major event in the Payment Business with round table sessions, keynotes and more.

It’s time for big steps in the payment landscape!

What can you expect?

  • Expand your professional network with the attendance of 300 + strategic payment experts
  • Over 10 C-level speeches with topics like: Digital Transformation in Banking, FinTech, NextGen customer, New PSD2 Business Models, Blockchain Impact and Artificial Intelligence
  • 20 round table sessions: EID, PSD2, Instant Payments, Cybersecurity, Cryptocurrencies, Data Driven Business Models
  • Young Professional Breakfast
  • Plenty of networking opportunities with Drinks & Bites

Program and Speakers

This year there are a total of 34 speakers with a diversity of expertise. You can see an overview of all the speakers of 2020 here.

To take a deeper dive into the full program you can view and download the agenda here.

What happened in 2019?

Pieter de Kiewit


Pieter de Kiewit, Owner of Treasurer Search, visited the event last year and we asked him a couple of questions about the event:




Why did you attend the event ‘Toekomst Betalingsverkeer’ last year?
In my perception the developments in payments are diverse and frequent. Technology is making giant leaps. Consumer acceptance is slowly following. And the supplier landscape is shifting from traditional banks, to Fintech to dominant players like Apple, Google and Amazon. I hoped to gain further insight in what can and will actually happen.

What was your overall impression of the event?
Well organized, nice venue and professional. A nice mixture of keynote speakers, smaller presentations and roundtable meetings.

Did the event meet your expectations? And why?
Yes and no. I learned quite a lot and gained new insights. With my focus on corporate treasury I was surprised about the limited audience. All people I met were competitors in one way or the other representing banks, fintechs, tech solutions or payment service providers. There was some talk about consumer payments. I totally missed interest and understanding in the main client group of most people present: organizations actually doing and receiving payments. No Unilever, Belastingdienst, telco provider, e-commerce company or similar organization.

What is the best thing that you can remember of the event?
A keynote speaker informing us about technology in China. He told about a world I do not know about, where payments and doing business in general is very different and in many aspects ahead of us.

Will you attend this year again? If yes, what do you hope to learn and see?
If my schedule allows, yes. I would like to see a program similar like last year with further input for and from business to business clients of suppliers already present.



Last year, one of the treasuryXL ambassadors, Francois De Witte, chaired two round table sessions with the main topic: “The View of the Treasurer on Payment Transactions”.

He wrote a recap of the event and the round table sessions, check his recap here.



Join the event with discount and register exclusive via treasuryXL

The registration fee to attend the event is € 849,00 per attendee.

We are happy to provide our readers with a 20% discount on your registration fee.

Make sure to use this exclusive link to register with discount.

I wish you a great event!

Kendra Keydeniers

Community & Partner Manager treasuryXL

Investments and risks, how do you deal with it?

3-2-2020 | by Rowan Hermes | Ilfa Group

Anyone who wants to get more out of his or her savings can think about investing. However, investing is never risk-free, as an investor you run the risk that you will lose (part of) your money. By doing good preliminary research, so that you know what you are investing in and why, you can make a well-considered investment choice. Part of the preliminary investigation is knowing and spreading risks, but not everyone knows what good risk spreading is. How do you deal with investments and risks? Our partner ILFA group wrote a blog about it. 

Blog is in Dutch language:

Laten we bij het begin beginnen. Beleggen is gebaseerd op het nemen van risico’s. Zonder risico zal een investering geen geld opbrengen, maar bij een hoog risico bestaat de kans dat je al je ingelegde geld verliest. Of het nu gaat om leningen, obligaties of aandelen, alle vormen van investeren kennen risico’s. Hier vallen dus ook de vier vormen van crowdfunding onder, namelijk donaties, beloning, lening en aandelen. In deze blog richten we ons op leningen, aandelen en obligaties, de meest voorkomende investeringsvormen.


De meest traditionele lening is de lening bij de bank, maar in principe werken alle leningen hetzelfde. Zo ook de crowdfunding-vorm lening, oftewel ‘loan crowdfunding’. Leningen zijn in feite vrij simpel, investeerders lenen een bedrag uit aan een onderneming en verwachten dit bedrag na een afgesproken periode terug inclusief rente. Het rentepercentage is meestal een goede indicatie van het risico dat je als investeerder loopt. Over het algemeen geldt dat een hogere rente ook meer risico betekent.


Het is mogelijk dat de organisatie garanties geeft of dat de ondernemers persoonlijk mee tekenen, maar dit hoeft niet. Alhoewel leningen niet de meest risicovolle investeringsmanier zijn, brengt het wel degelijk risico’s met zich mee. Gaat de organisatie failliet, is er een grote kans dat je (een deel) van je investering kwijt bent. Daarbij komt het daadwerkelijke rendement wat je ontvangt niet altijd overeen met wat beloofd wordt, zo laat onderzoek van CrowdfundigCijfers zien.


Bij aandeleninvesteringen, oftewel equity crowdfunding, worden investeerders in ruil voor hun inleg deels eigenaar van de onderneming. Bij deze vorm van investeren komt verreweg het grootste risico kijken. Als de organisatie waarin je geïnvesteerd hebt failliet gaat, ben je al je geld kwijt. Aan de andere kant betekent dit hoge risico wel dat er hoog rendement tegenover staat. Als de onderneming groeit en winst maakt, kun je als aandeelhouder dividend uitgekeerd krijgen. Naast dividend bestaat de kans dat de waarde van je aandeel groeit, waardoor je bij de verkoop van de organisatie je geld kan vermenigvuldigen.

Equity crowdfunding kun je dus net als andere aandeleninvesteringen onder het principe ‘high risk, high reward’ schalen. Als de onderneming succesvol is, kun je als investeerder je inleg goed terugverdienen. Er bestaat echter altijd een risico, omdat je niet van tevoren weet of en wat je terugkrijgt.


Een obligatie is een (achtergestelde) lening. In sommige gevallen spreek je van een converteerbare obligatie. Dit is een obligatie die in de toekomst omgezet kan worden naar aandelen. Afhankelijk van de voorwaarden komen de risico’s daarom overeen met de risico’s van loan crowdfunding of van equity crowdfunding. De risico’s van investeren in obligaties zijn over het algemeen groter dan de risico’s van een investering in de vorm van een lening. Bij een achtergestelde obligatielening hebben investeerders bij een faillissement pas recht op hun geld nadat de andere ljeningverstrekkers hun geld ontvangen hebben. Tegenover dit risico staat een hoger rendement en, wanneer sprake is van converteerbare obligaties, de mogelijkheid om de obligaties te converteren naar aandelen.

3 Tips voor omgang met risico’s 

Als je rendement wilt halen op je spaargeld kun je niet om risico’s heen. Om succesvol te investeren is het dus belangrijk dat je goed met risico’s omgaat. Dat zal voor een groot deel bepalen hoeveel je investeringen opleveren. Nu we de meest voorkomende manieren van investeren hebben besproken, geven we je drie tips over het omgaan met risico’s.


Wanneer je kiest om een groter bedrag in één organisatie te investeren, bestaat de kans dat je in een keer je volledige inleg kwijt bent. Het is verstandiger om je investering te verdelen over verschillende organisaties. Door het risico te spreiden probeer je het totale risico van je investeringsportefeuille in te perken. Als een van de organisaties waarin je geïnvesteerd hebt failliet gaat, ben je maar een deel van je geld kwijt. Hopelijk kan dat gecompenseerd worden met andere, meer succesvolle investeringen. Een vuistregel voor een goede investering is dat je niet meer dan 10 procent van je vrij beschikbare vermogen in één organisatie inlegt.

Type organisaties

Een portfolio met investeringen in meerdere organisaties betekent niet meteen dat je aan goede risicospreiding doet. Pas als je portfolio diverse is, ga je op een zo verstandig mogelijk manier om met risico’s. Zorg dat je in je investeringsportfolio meerdere organisaties van verschillende groottes en actief in verschillende markten hebt. Wissel investeringen in startups af met investeringen in gevestigde bedrijven. Zo houd je rekening met de risico’s per organisatie, maar ook met marktrisico’s.

Soort investeringen

Zorg daarnaast dat je verschillende investeringsvormen afwisselt. ‘High risk, high reward’-crowdfunding, zoals equity crowdfunding, kan prima afgewisseld worden met de veiligere loan crowdfunding. Eventuele slechte investeringen kunnen gecompenseerd met de opbrengst van investeringen met een lager risico. Het is de kunst om de juiste balans te vinden tussen risico en rendement. Ben zo flexibel mogelijk en blijf binnen jouw investeringslimiet, dan zul je het meeste plezier beleven aan investeren!

De bovenstaande tips gaan over het spreiden risico’s en het opstellen van een divers portfolio. We kunnen niet vaak genoeg benadrukken hoe belangrijk dat is. Zet niet al je geld in op één organisatie in de hoop dat je de nieuwe Facebook ontdekt hebt, maar verdeel je inleg en zet niet al je geld in op één financieringsvorm, maar spreid het over verschillende vormen. We hopen dat de bovenstaande tips je voldoende handvatten geven om investeringsbeslissingen te nemen.