Corporates reveal views on blockchain and Brexit in Temenos survey
The results of the survey provides proof that understanding each present balances and the influence of future transactions is felt to be vital to allow environment friendly administration of liquidity. Moreover, the report highlights the actual significance hooked up to information evaluation in bettering determination making, demonstrating an rising want amongst treasury groups to make the most of their information property to each enhance their very own effectivity and that of the broader firm. An absence of real-time information and reliance on handbook processes had been highlighted as the largest challenges dealing with treasurers at this time.
Key findings embody:
– Three quarters of corporates in two areas are curious about blockchain to cut back their buying and selling dangers
– A excessive proportion of these surveyed from the UK and mainland Europe imagine that at the least some banking actions will likely be moved out of the UK following Brexit
– Nearly a 3rd (31%) cite liquidity administration as by far the best precedence over the subsequent 18 months
– Correct forecasting and a whole view of money positions come out as a high precedence (16% and 14% respectively)
– 17% of respondents identify FX threat focus as a primary precedence
– 35% of all corporates and 42% of these with greater than $10bn in revenues cite lack of real-time information availability is a big operational concern
Darryl Proctor, Product Director – Transaction Banking, Temenos says:
“This survey clearly highlights the challenges confronted by treasurers in managing liquidity. Along with financial and FX pressures, the influence of regulation within the banking sector (reminiscent of Basel III) has pressured adjustments in technique. On the identical time, the retrenchment by a number of the largest company banking suppliers from some areas and territories has added to the inherent complexity in managing money throughout a number of banking companions.” Darryl provides: ‘”Many banks have tried to alter the business phrases round money balances and notional pooling methods, making this a extra complicated concern. The survey highlights that treasurers are dealing with actual challenges and complexities in getting the money place data they should handle liquidity, a specific concern the place there are a number of financial institution and different third social gathering relationships in play. Corporates wish to deal with this concern over the subsequent 18 months and until banks are prepared to help this requirement, there’s a threat of attrition”.
Kieran Hines, Follow Chief for Monetary Providers Know-how at Ovum, added:
“Company treasurers face an more and more complicated and difficult working surroundings, one that’s creating a transparent want for larger entry to actual time account data and extra refined forecasting providers”. He provides: “On the identical time, it’s clear that treasurers are additionally in search of monetary providers companions who can ship services and products tailor-made to the particular wants of their companies. For company banks, addressing these challenges presents a big alternative to drive development and construct deeper consumer relationships”.
Be part of us at SIBOS 2016: Temenos are delighted to be at SIBOS this yr the place we will likely be enterprise quite a lot of actions, together with a Blockchain Breakfast Panel debate with eminent business figures, and our Company Treasurers Survey Open Theatre session with Ovum the place we focus on intimately the highlights of this report.
