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PSD2: The Disruption and Innovation of Open Banking
| 11-8-2017 | treasuryXL | The Paypers |
PSD2: Game changer, opportunity and challenge
PSD2 is a game changer for digital payments and commerce in Europe and will have a significant global impact. It requires financial institutions to make changes to their platforms and systems, while making strategic decisions on how they want to play going forward. These changes will require significant investment as well as a strategic shift, as banks are forced to consider how they can safely open their banking platforms to external third parties. While this may negatively impact the revenue of large banks, it can also level the playing field for smaller fintechs, as well as provide opportunity for new product innovations.
Not only do banks and other PSPs need to work toward compliance, but they also need to define their strategy to position themselves competitively in the market. They will also need to align the somewhat competing demands of rapid innovation while maintaining vigilant security as the cybercrime war continues to rage.
Innovation and Disruption
Digital transactions have had a huge impact on the evolution of the fintech industry as niche products and services have emerged to fill the crevasses left by larger financial institutions. These include services for the unbanked and underbanked, instant insurance, crowdfunded loans and global online remittance. Fintech operators have been able to rapidly innovate for many reasons: a lack of legacy back end systems, lower regulations and less online scrutiny, for example. On the other hand, large financial institutions have unwittingly become the enablers with minimal benefit.
However, PSD2 and Open Banking regulations are set to create more opportunities as both financial institutions and new providers compete to drive smarter revenue from payments. With open banking, the financial institutions would be increasingly at risk of losing their direct relationship with the customer and becoming a back end utility. On the other hand, new providers could emerge, enabling customers to access their banking services from a common portal, without having to ever log into their bank. These portals may also enable the customer to get services à la carte from a menu of banks. As such, businesses are contemplating the path forward as they wait for new payment platforms and ecosystems that lead to new business models to emerge. It will be critical for established providers to decide how to take advantage of the opportunity and not be left behind.
What are the threats and possible solutions to navigate the future according to Alisdair Faulkner?
Please read more by referring to the original article on The Paypers.
Business intelligence for cash flows & cash positions
| 10-8-2017 | Treasury Intelligence Solutions GmbH (TIS) | Sponsored content |
When cash flow visibility is the lifeblood of your company, you want full control and knowledge. Direct access to insights on profitability and potential business risks allow you to make better decisions based on solid business intelligence that is accessible anytime and anywhere. Companies now can experience the power of the Business Discovery Manager – a business intelligence module within the TIS cloud platform. Supplier, salary and treasury payments can be easily analysed along with cash flows, liquidity and working capital via easy-to-use dashboards and reports. The tool, enhanced through state-of-the-art BI technology, enables users to access all strategic insights in a single, flexible, web-based and multi-bank, multi-ERP capable platform, available 24 hours a day from anywhere in the world.
Do you want to find out more about this interesting topic?
Do you want to discover the benefits and functions of the Business Discovery Manager in detail?
Treasury Intelligence Solutions (TIS)
You can request the TIS Factsheet via the red button.
Cash management – Mandatory truck system
| 9-8-2017 | Douwe Dijkstra |
The bank, or in case of a syndication the banks, already defined in the (syndicated) facility agreement which bank(s) will operate the borrowers cash management.
It goes without saying that this obligation means that not always the best choice for the company has been made. The “best cash management bank” can be different for each and every company (although some banks may pretend to have the best solution in all areas for all companies). Important criteria are whether a company is centralized or decentralized, what specific products the client requires from the bank, the price list of the bank, the foot print of the bank etc. etc.
It’s my observation that officers negotiating the (re)financing consider cash management as the way it is described e.g. “side business”. Banks try to make the decision makers for the facility agreement believe that they do not earn anything on it. Thus, the circle is complete.
Douwe Dijkstra
Owner of Albatros Beheer & Management