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Online Treasury training programs: a new trend and options increase

| 21-11-2016 | Annette Gillhart |

If you are working as a treasurer and think about following a training you might as well look on the internet: an increasing number of programs are given online. We thought that it might be useful to check what’s on there and present a few.

A small selection of what we found

Hecht Consult Bank Training and Treasury Consultancy
Michiel van den Broek is a financial expert and has hands on experience managing foreign exchange and interest risk. The last 10 years, Michiel has focused on training and has set up the Financial Training Hub. He has created custom programs and delivered training to hundreds of participants working for banks, financial supervisors and other financial institutions on subjects such as financial markets, asset & liability management and risk management. Michiel has published an e-book ‘Understand Banks & Financial Markets’ to introduce training participants in the world of finance. He offers training programs such as Financial Markets (Advanced), Banking Basics, Risk Management Basics, Compliance and Financial Markets, Introduction Asset & Liability Management, Bank Management and more. Read more

Coursera
Free training programs! Coursera is an education platform that partners with top universities and organizations worldwide, to offer courses online for anyone to take. Their mission is to provide universal access to the world’s best education. Statement from their website: ‘Online learning plays a significant role in a lifelong education. In fact, a recent report by the U.S. Department of Education found that “classes with online learning (whether taught completely online or blended) on average produce stronger student learning outcomes than do classes with solely face-to-face instruction.’ Go and check the search term ‘Treasury’. At the moment they offer two trainings: ‘Global Financial Markets and Instruments’ and ‘The Global Financial Crisis’. Read more

Treasury Services
Next to other services they offer Treasury training and education in their Treasury Acadamy. The e-learning Treasury Academy enables participants of programs to decide when, where and how they want to follow training courses. Training courses are instantly available through their secured platform. They offer training programs on Foreign Exchange Risk Management, Foreign Exchange Options, Interest Rates and Interest Rates Risk, Modern Bootstrapping, Cash Management and more. Read more

Many more options

It is obvious that this is just a small selection of what can be found. There is more and options increase. If you do not want to follow courses alone you can consider peer assesments or blended learning, too.

Have you followed an online training program lately? Please feel free to share your experience!

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Annette Gillhart – Community Manager of treasuryXL

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How Bank Independency improves your Treasury Performance

| 18-11-2016 | PowertoPay |

As RBS in april 2016, ABN AMRO announced recently that they will lay off another 1500 employees worldwide and reduce services due to ongoing digitalisation. We came across an article of PowertoPay and in the light of recent developments you might find it interesting to read.

As we emerge from the global credit crisis and banks are starting to (geographically) withdraw from some parts of the market, managing cash flow more effectively is a top priority for treasurers. Monitoring, analysing and reporting on underlying business cash flow and risk has become extremely important. Despite the changing role of the treasurer which resulted in new requirements, treasury must still determine the optimal organizational structure that meets both strategic goals and supports overall efficiency. These efficiency goals have created the need for centralized bank-agnostic solutions that aggregate all financial information onto one platform.

The evolved need for bank-independency

As competition increases in the payments market, banks need to create competitive differentiation, either in-house or in a shared model. Banks need to reshape their focus and keep a consistent client focus. A recent example of a bank that needed to reshape was the withdrawal of RBS from a large number of countries. RBS has made the choice of being a consumer bank for the UK and decided to end servicing the earlier acquired Global Transaction Banking customers.

The withdrawal of RBS from large parts of the market created the need for large corporates to investigate bank-independency and bank-agnostic solutions more thoroughly. A logical consequence, because how can you be certain that your bank will remain active in a specific country for over five years? Frank Nolden, CEO of PowertoPay states: “If the financial crisis has taught us anything, it’s that no matter how big, banks can go bankrupt. Therefore, corporates want to decrease their risk on financial counterparts, because these counterparts might no longer exist in a few years”.

Reducing risk

In order to: 1) reduce the risk on financial counterparts 2) overcome the bottlenecks 3) reduce potential credit inefficiencies found within the use of single banks, corporate treasurers increasingly focus on bank-agnostic solutions. Connecting to multiple banks via a centralized bank-agnostic solution means lowering the risks of having to change and select new banks in the future, which allows corporates to have greater financial performances.

Succeeding with simple connectivity

Large corporates more often choose for developing channels and services that support a multi-banking, bank-agnostic approach. According to the CEO of PowertoPay, Frank Nolden, “the maintenance of all the different multiple technology systems have driven corporates to opt for simple hub connectivity through centralized solutions”. Many corporates have to connect to a myriad of bank portals with numerous security tokens to handle their treasury operations, which considerably increases risk. Bank-agnostic solutions automate, centralize and standardize globally these payment and cash management processes, allowing treasurers to make better, more informed and faster decisions based on real-time holistic insights, improving their performance.

Conclusion

Corporates are always seeking to increase the levels of operational efficiency. Maintaining all types of different multiple technology systems with low efficiency levels have driven treasurers to opt for bank-agnostic, centralized solutions. These solutions reduce the risk on financial counterparts, creating more streamlined and effective treasury operations.

New Community Manager

| 17-11-2016 | treasuryXL |

Since we’ve started at April 21th 2016, treasuryXL made some important steps and we’ve been growing ever since. Our community is continuously expanding with authors, editors, sponsors and readers. Everyday we provide you with fresh, treasury related content: articles, vacancies and events. In the start-up fase it was our main interest to make the site known to you and find out about the focus and issues that added value to the market and the treasury community. Now we’re taking it to the next level!

I can proudly say that while being your community manager I’ve learned a lot about the treasury world and certainly made some new friends! I’m really proud of what we have reached so far but I also think it’s time start a new fase with a new community manager. I’m taking on a new challenge in another start-up and would like to thank you all for the support and the pleasant cooperation we have had so far. So, I’ll step aside…

…and present to you our new community manager: Annette Gillhart!

treasuryXL has informed you about all kind of news around treasury issues. Next to daily news and actualities you were informed about interesting topics such as treasurer vacancies and upcoming events. In the start-up fase the site became known to you as a platform to all kind of news about the treasury market and community.

In the meantime many of you know how to find us and this is the moment to enter a new fase and emphasize the website’s value even more. That means that we want to increase the number of visitors and provide a platform for even more companies, institutions and experts of the treasury habitat.

This will be my task, taking the website to the next level, make it even more attractive and expand the community. So that we can provide you with even more diversity and interesting content. In the meantime a number of companies found their way to our website, and are using it very successfully as a platform to promote their own businesses. It goes without saying that we want to provide this unique possibility to even more companies and institutions. It is our aim to keep improving the site and stay as lively and attractive as possible to all of you.

I’m hoping for a pleasant and fruitful cooperation!