From which a first pilot ‘product’ is a letter of credit enabled by Distributed Ledger Technology. Other applications for blockchain are found in cross border transactions and Treasury payments. A lot of buzz and funding surrounds blockchain and many pilots are started to learn from. Consumer payment processing is an area where many innovations are connected and where ‘Big Tech’ is making a mark, for example Amazon Go. The impact of instant payments will start to unfold in the coming years and will definitely change current daily Cash Management processes. Payments is also an area where full attention needs to be on security, anti-fraud and anti money laundering. Payment fraud detection can be facilitated by artificial intelligence and Identity and Access Management innovations to make digital processes more secure. Nevertheless the human factor remains to be considered given the rise in ‘CEO Fraud’. API SaaS Blockchain AI RPA Triggered by PSD2 and facilitated by API’s, more 3rd party multibank tools for statement and payment processing are expected to enter the market. Other 0% 5% 10% 15% 20% 25% 30% Author: Ariane Hoksbergen, Senior Manager Treasury Technology 12% 35% 25% Cash Management Risk & Control TMS Finance 28% Non-bank sources of funding (e.g. platforms for factoring) and FX trading platforms become accessible to a larger group due to a continued shift towards online and digital solutions. A more accurate Cash Flow forecast is achieved by using Artificial Intelligence, starting with pattern recognition. To make operational Treasury processes, for example daily cash positioning or payment processing, more efficient, Robotic Process Automation is already on the agenda for many treasurers. Other tools and systems that are not specifically aimed at Treasury might also be worth investigating like work flow management systems and contract management systems. Tools to make data analysis easier and more intuitive are largely available. Excel is still a key tool, but alternatives or compatible solutions are to be considered to enhance analysis and facilitate decision making. In this guide we have gathered Treasury technology solutions specifically targeted at treasurers and have included solutions that have the potential to make an impact in coming years. Treasury needs and relevant technologies: by Orchard Finance UPDATES & TRENDS 7 Technologies DIGITAL TREASURY
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