This spring, Redbridge hosted its inaugural Banking and BBQ corporate roundtable event in Dallas, TX. The event brought together corporate treasurers from some of the city’s and the world’s largest companies to engage in meaningful discussions about the latest trends in cash management, payments, and corporate finance. Set against the warm and inviting backdrop of Lane’s OAK’d BBQ’s newest location in Addison, the day was a perfect blend of insightful conversation and top-tier barbecue.
What’s Hot in Banking?
The event’s discussions were fueled by the latest developments in banking and treasury management. Here’s what was top of mind for our attendees:
- Payment Data Insights: The potential for using payment data to gain a 360-degree view of consumers was a recurring theme. The discussion extended into the emerging applications of Generative AI (GenAI) in payments and customization, signaling a new era of data-driven decision-making.
- Buy Now, Pay Later (BNPL): Still a favored tool among younger consumers, BNPL continues to challenge traditional credit models, with many treasurers weighing its implications for their financial strategies.
- Rising Costs of Depository Services: Attendees voiced concerns about the drastic increases in cash and coin services, highlighting the growing pricing power of depository service providers.
- Cost-Cutting Fatigue: As banks compete aggressively in RFPs, treasurers are experiencing frustration with the lack of tangible movement in business allocations, reflecting a fatigue in cost-cutting measures.
- AI, APIs, and RTP Buzzwords: While banks are excited about these advancements, many treasurers are more focused on practical solutions that directly impact their operations.
- Yield Proposals: Despite some indications that current yield offers may have peaked, they remain a strong component of treasurers’ investment strategies.
Why These Discussions Matter
The insights shared at the roundtable are critical for corporate treasurers as they navigate an increasingly complex financial landscape:
- ISO 20022 Interbank Deadline: This upcoming deadline will significantly impact which file formats banks can provide if they are using correspondents. Staying ahead of these changes is crucial for maintaining operational efficiency and most of the attendees were not aware of the impact.
- Rising Credit Costs: As access to credit becomes more expensive, treasurers must carefully evaluate their funding strategies to ensure they secure the best possible terms.
- Inflating Costs of Depository Services: With depository service providers gaining more pricing power, companies need to be proactive in locking in favorable rates and minimizing the impact of rising costs.
How Redbridge Can Help
At Redbridge, we’re committed to helping our clients navigate these challenges:
- Navigating the Payment Landscape: We offer expert guidance on streamlining your payment ecosystem, from customer checkout to reconciliation, ensuring you’re equipped to handle the latest industry shifts.
- Reviewing Capital Structures: Our team can help you evaluate alternative funding sources and structures, providing the flexibility and favorable terms needed in today’s market.
- Securing the Best Rates: By locking in the best fees and rates on cash management services, we help reduce the impact of rising costs and falling interest rates.
What’s Hot at Lane’s OAK’d BBQ
Our Banking and BBQ event was more than just talk—our attendees also got to sample some of the best barbecue Dallas has to offer at Lane’s OAK’d BBQ in Addison. Known for its craft barbecue, everything at OAK’d BBQ is made in-house from scratch. Pitmaster and chef Michael Lane even gave us a tour of their two massive pits, affectionately named Army and Navy.
Lane’s OAK’d BBQ has been recognized as one of the top BBQ joints in Texas by Texas Monthly and Dallas Observer, and it’s easy to see why. If you’re in the Dallas area—or lucky enough to live there—make sure to add this spot to your regular dining rotation.
Key Takeaways from Our Event
Our survey results reflected the overall positive reception of the event:
- Brisket and Desserts Were Favorites: Both the prime beef brisket and desserts like bread pudding and key lime pie received top marks.
- Awareness of Rising Costs: A significant number of treasurers are seeing increases in banking fees and interest spreads, though many are still unaware of the full implications.
Whether you’re a corporate treasurer looking to stay ahead of industry trends or someone who appreciates top-notch barbecue, our Banking and BBQ event offered the perfect mix of both. If you find yourself in Dallas, don’t miss out on OAK’d BBQ.
And of course, if you’re navigating the complexities of today’s banking landscape, reach out to Redbridge. We’re here to help you find the best solutions for your business.