Treasurers have pushed for years for getting better payment services and the EACT’s conclusion is that SWIFT gpi has started on very strong tracks. Immediate benefits for our industry include faster payments, higher control on costs, easier tracking and a reduction of inefficiencies. This initiative allows us to better understand how our banks operate and sometimes to assess or challenge their performance.
The VDT launched the working group in June to deals with the adaptation of internal and external processes to the digital treasury world. They share some of their findings so far.
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COVID-19 has certainly impacted the way we communicate from a technical or logistical perspective – I think we’d all agree with that! It has also perhaps raised our awareness around the importance of communications, on a number of different levels.
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12 months ago, Central Bank Digital Currencies (CBDCs) were the topic of think tanks and obscure magazines. These days, not a month goes by without a new headline in the more popular press.
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From March to May 2020 the VDT conducted a survey on Payment Factories. The trigger for the survey were the numerous regulatory changes that have had a strong impact on the processing and optimization opportunities in payment processes.
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The health crisis linked to the coronavirus epidemic has plunged all countries worldwide into the unknown. Paralyzing a large portion of the population and of companies, the health crisis subsequently gives way to a major economic crisis. Against this backdrop, companies first focused on liquidity. Indeed, with a sudden drop in sales, the cash flow generation slows down or even stops as companies are unable to slow down their cash outflows.
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