BCR Publishing
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Working with industry leading organisations, experts, governments and universities, BCR Publications delivers expertise in factoring, receivables and supply chain finance to a global audience.
BCR has long been a beacon of innovation and excellence in the realm of receivables finance, playing an instrumental role in shaping the industry’s international landscape. Through its comprehensive conferences, insightful publications, and thought leadership, BCR has facilitated crucial dialogues and connections among industry professionals, driving forward the development of receivables finance globally.
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Introduction of two Community Ambassadors: Francois and Marco
| 11-07-2019 | by Kendra Keydeniers |
treasuryXL is happy to announce a close cooperation with François De Witte and Marco Lassche. As community ambassadors they will contribute to further raise the level of the treasury function, both for the inner circle: corporate treasurers, bankers & consultants, as well for the non-treasurers.
“I am eager to share my large experience in treasury, banking and innovation with the TreasuryXL community” said François.
François will bring added value to the community with its innovative and broad corporate finance and treasury experience. He operates from Belgium.
Marco Lassche started his ‘World of Treasury’ career in 2002 and has become a professional in banking, corporate treasury both in large, international corporates as well as mid-sized
companies. In 2018 Marco founded ‘Bedrijfskostenexpert’, a Dutch company specialized in Cost Reduction, working on a No Cure, No Pay
base. Marco his core expertise’s are Cash management, Funding, Risk Management, Setup in-house bank and cost savings.
“I am looking forward being part of this growing treasury community. Let’s take treasuryXL together to the next level as a leading portal for treasurers and non-treasurers.” said Marco
Marco will give the community an energy boost and he can’t wait to share his knowledge to enhance the treasuryXL platform. He operates from The Netherlands.
The club of treasuryXL ambassadors now exists out of three: François De Witte, Marco Lassche and Pieter de Kiewit – owner of Treasurer Search.
“Large corporates invest substantially in continuous improvement and innovation of their treasury function. Mid-sized corporates often miss opportunities in, and pay too much for basic treasury. I think there is a lot to be gained in increasing the acceptance of corporate treasury and its’ development. I would like to contribute.” Said Pieter de Kiewit, owner at Treasurer Search.
Keep an eye out for these treasuryXL ambassadors, they will deliver useful and inspiring topics throughout the year.
About treasuryXL
treasuryXL is built by treasurers to serve treasurers and non-treasurers. treasuryXL offers:
Kendra Keydeniers
Community & Partner Manager at treasuryXL
Why is cash flow forecasting still an issue?
| 09-07-2019 | by treasuryXL | Kendra Keydeniers
Cash forecasting is a vital part of the treasury role – and for all too many treasurers it’s a time consuming, difficult job where insufficient system support makes data management, analysis and reporting a time-consuming nightmare.
However, the good news is that it doesn’t have to be that way! In this insightful webinar hosted by The Global Treasurer and Analyste, they will:
The first step towards simplified cash forecasting: Register now for the Webinar on 17 September 2019 from 11:00AM to Midday BST
Big tech vs Fintech vs Banks – in international payments
| 09-07-2019 | by Patrick Kunz |
Fintech & Banks
Traditionally the market for international payments was dominated by banks. Recent years and technological advancements has shown that banks are slow to adapt to new technology and market requirements. In some cases it still takes days to transfer money from Europe to Asia, while an email, FB message or picture can be send in seconds. Fintech has tried to fill the gap with innovative tech solutions that solve these problems. Often these companies are lean and mean and adapt to market changes much quicker than the big stable banks. They provide cloud solutions, link to every bank possible and make you more bank independent. Lately we have seen consolidation in the fintech market where players are merging, growing or being taken over by banks. Some banks have started their own fintech. But often fintech only solved a part of the problem and is build on the existing (bank) infrastructure. Banks are also working on innovation: instant payments, swift GPI and PSD2 api’s are helping the customer paying faster and easier. These initiatives are great but have taken years to be implemented.
Bigtech
Then there is a third group of players: big tech. These are the google, facebook and alixpress of our world. These are traditionally IT companies who have a big client base but these companies where not involved in payments (yet). Their edge is size, market access and fast adoption. What happens if they enter the market for payments? Are they likely to win? Look at Alipay, massively successful in China but growing immensely outside Asia to. Why ? because it is easy to use, innovative, low cost and probably most importantly connected with an existing service of the bigtech (alixpress – shopping). The company provides the full customer journey: shopping for product and paying the goods in the most easy way without moving away from the website. Not only via desktop but also via mobile. On the go they make it possible to pay by scanning a QR code, in a grocery store or in a cab. Who needs cash OR a debit card, you only need your mobile phone and an app! Why was this successful? Because the existing customer base was already there they just vertically integrated into the customer journey; easier for the customer and therefore extra revenue for Ali. But also more power for Ali.
Stablecoin Libra
Looking at Facebook and their Stablecoin Libra. Digital currency, unregulated, not based on the traditional banking/payment infrastructure. There are big and significant differences with Bitcoin but the idea is the same: sending and receiving money worldwide in an instant as digital currency. There should be no speculation on the Libra-Rate as the rate of exchange is based on a basket of currencies (EUR, USD, JPY etc). Similar to the old tech Special Drawing Rights from the IMF. So what makes libra different to bitcoin and the other coins? I am not going into the technical differences as that is beyond my scope and would bore you. The main difference is the easy of adoption. New to bitcoin and want to use it: you have to open a wallet, trading account and learn have to transfer the BTC to somebody and the receivers also needs a wallet; a barrier for most. Using Libra will be much easier as it is just an extension of the services of Facebook. Libra potentially has 2,4 billion users (the number of facebook accounts). This is a big competitive advantage. Compared with smart marketing (facebook knows that) and combining it with existing products there is a big potential. Sending money to your facebook friends in Australia or Japan? No problem: in-an-instant via Libra. Besides facebook it is also supported by other big players like Visa, Spotify, Paypall, Mastercard, Vodafone. Is there a future without Libra ? And how many facebook users are there without an bank account. There are 2,4 billion facebook users and 1,7 billion people without a bank account in this world. The reach is already huge so there is low barrier for adoption.
The Battle
Does this mean bigtech will be ‘winning’? In my opinion hard to say. That battle is being fought the coming years. Don’t forgot the power and influence of regulator and governments. Digital payments are unregulated and unknown and could influence the power of governments and the whole banking infrastructure of money regulation, central bank money creation and some even fear de-stabilization of the monetary system as a whole. Regulators could stop/limit the quick steps forward by bigtech.
The coming years will be exiting to see the technological advancements in the battle for payment revenue. The winner will be the consumer; easy of paying will increase further and more importantly the speed will increase. Paying how we want and within a blink of an eye, and this worldwide, will be the new standard within several years.
Patrick Kunz
Treasury, Finance & Risk Consultant/ Owner Pecunia Treasury & Finance BV