Treasury Forecasting: An Overview Of Practices
Planning For the Unexpected By Optimizing Your Credit Profile
The importance of having an optimal credit profile may seem obvious but also like a daunting task. You may not know when you will need access to credit but having an optimal credit profile at all times allows you to access credit when it is needed, even unexpectedly, according to a Forbes.com article.
Using Technology to Gain a Competitive Advantage
Analytics is helping banks and corporations gain a competitive advantage by delivering actionable insights as well as an effective solution for addressing issues like safety and compliance. The corporate world can use the same technologies and strategies to address the challenge of bank account management (BAM).
Interchange Fee Factors Merchants Can Influence
For businesses nowadays, accepting payment cards is non-negotiable. The process of a payment card transaction seems simple; a customer swipes, dips, or taps their card, receives approval, and easy as that, they are on their way with their newly purchased products or services. However, behind the scenes of this seemingly simple process, several participants are working to complete the transaction. Participants can include the cardholder, the merchant, payment card networks, issuing banks, and card acquirers, each of which can include a fee for their participation in the transaction. For corporations, who can see thousands or millions of transactions daily, the fees can quickly add up.
Are You Married to Your Bank?
Is the relationship you have with your bank really that different from your personal relationships?
No truce for the reduction of card interchange fees
In November 2018, the Visa and Mastercard networks offered to reduce inter-regional multilateral interchange fees (MIFs) in Europe by at least 40% in response to the European Commission’s competition concerns. These fees apply to payments made in the European Economic Area (EEA) with consumer debit or credit cards issued outside the EEA. An example of such a payment would be an American tourist using a Visa or Mastercard card to pay for a restaurant bill in Belgium.
“KYC4Corporates will help companies connected to SWIFT to reduce their compliance costs” – Marc Delbaere, SWIFT
The SWIFT network is set to extend its KYC solution, which is currently used by 5,000 banks for correspondent banking activities, to companies. It aims to offer the 2,000 companies connected to the network a structured information exchange solution – one that is already used by partner banks for customer verification processes – by the end of 2019. Interview with Marc Delbaere, SWIFT’s Head of Corporates & Trade.
Technological solutions are making it increasingly easy to monitor and optimize WCR
Many treasury software vendors strive to offer reliable and efficient modules to anticipate cash inflows and outflows. In addition to Treasury Management System tools, stand-alone solutions for managing and optimizing WCR are being developed. These niche solutions are designed to improve the management of the purchasing cycle (P2P) or sales cycle (O2C). Overview.
Trading firms and banks: who’s afraid of whom?
Commodity traders have a mutual interest in improving the overall risk perception of their sector and its practices. It is also important to understand what’s driving the banks’ lending decisions, says Mihai Andreoiu, Senior Director at Redbridge.
The Future of Cash: What You Should Consider
With the increase of card payments, mobile payments, peer to peer payments like Venmo, and cryptocurrencies, there are many theorists who believe cash is dead. However, according to Payments Journal, it is alive and thriving. The Federal Reserve reports that cash is still the preferred payment method for transactions under $25 in retail and, specifically, quick-service restaurants (QSR) according to a QSR Magazine article. Additionally, in 2018, 41.1% of QSR transactions were in cash.
The Effects of Rising Rates on Account Analysis
With the gradual rise in the fed funds rate over the last two years, higher earnings allowance rates are creeping in ever so slowly. Whether working for a bank, credit union, small business, or a large corporation, higher Earnings Credit Rates (ECR) affect everyone using account analysis. Have you ever wondered what effect the rate hikes have on account analysis and / or bank fee analysis?
Regulation Changes Within the Payment Card Industry
The payment card industry has changed since its inception. What are the regulatory agencies doing to keep card users data safe? And, which of those changes will cause your company’s systems to need to be updated?
Start 2019 With the Best Banking Relationships
Without effective two-way communication, your banking relationships can quickly deteriorate. Read more to understand how to strengthen your company’s banking relationships in 2019.
Bank Account Management in a Risk-Focused World
The bank accounts your company uses stores the most liquid of all company assets. In the wrong hands, these accounts can expose your company to a significant risk of theft, fraud, or non-compliance.
The 5 Common Bank Billing Errors
Is your business grappling with excessive banking fees? Are they accurate or erroneous? An analysis of your bank billing statements can help you solve this dilemma. It is not uncommon for a banking institution to make errors that affect their customers. In January 2018, Wells Fargo double charged an unknown amount of consumers due to an internal processing error. Below we break down five of the common billing errors we see when helping our customers.
Why Should a CFO Care About AFP Codes?
Does everyone in the organization need to care about banking with providers who use AFP Service Codes? The simple answer, they should!