European treasurers join forces on Instant Payments

At the 2019 EACT Summit, some participants developed the idea to join corporate treasurers across the EACT members for a discussion on Instant Payments. And in June 2019 it took place: the French Association of Corporate Treasurers (AFTE) hosted the exchange on Instant Payments in Paris.

Under the broad title “Evolution of Instant Payment and implementation in the BtoB and BtoC worlds” the subject was taken from an introduction, set in context of the omni channel approach in BtoC and thorough information of European initiatives started by retailers, banks, vendors associated with corporates. The first session included keynote speakers from across Europe – e.g. from large corporates as IKEA, consultants as well as delegates from national associations, such as the German Association (Verband Deutscher Treasurer - VDT). The feedback from the audience was very positive as participants appreciated that this event offered high quality contents and an opportunity for them to learn, progress, share experiences and network!

Gregoire Toussaint (Edgar, Dunn & Company), Didier Cocheteau (Deloitte), Axel Schaefer (IKEA), Mario Reichel (PPI), Armelle Poulou (EDF) provided the input for the lively discussion of the new payment scheme that may even become the “new normal” for credit transfers if the discussed barriers and constraints (amount limit, corporate interfaces to initiate, notification services to work on incoming payments, 24/7 issues in systems, personnel and processes) in the context of several use cases are solved by common efforts of all stakeholders.

The event location at OpenMind Kfé Cléry indeed made a difference: the attendants felt more comfortable and at ease to exchanges, compared with traditional conference rooms. Merci beaucoup to the AFTE team in Paris making this happen.

The feedback to the event shows that it is highly appreciated when corporate treasurers are given opportunities to exchange on joint topics across borders. The EACT invites and encourages you to express / bring up ideas you would like to discuss with your EU fellow treasurers! Please contact the EACT secretary@eact.eu or your national treasury association.

Articles


Photo from From Bitcoin to Central Bank Digital Currency (CBDC)

From Bitcoin to Central Bank Digital Currency (CBDC)

In recent months, we have seen the first steps of concerted moves towards CBDCs. This change of attitude is welcome as it complements other private and public initiatives in the world of payments which is innovating at a greater pace than ever.

Read
Photo from Stronger FX Hedging Strategies: a Pandemic Game-changer

Stronger FX Hedging Strategies: a Pandemic Game-changer

As the pandemic continues to throw markets into confusion, forcing corporates to battle against unprecedented volatility, treasury functions have an opportunity, albeit uninvited, to prove their strategic value – especially in relation to FX risk management.

Read
Photo from General Trends in TMS Solutions

General Trends in TMS Solutions

TMS’s have evolved over time and especially in the last couple of years with a huge leap in technologies. Treasurers are investigating how TMS can help in further modernising the finance function in the coming years.

Read
Photo from A Multidisciplinary Approach to Preventing Payment Fraud

A Multidisciplinary Approach to Preventing Payment Fraud

An escalation in fraud and cybercrime activities has been observed in recent months, as cyber attackers have been able to make use of the weaknesses caused by the current health crisis.

Read
Photo from Return on Purpose

Return on Purpose

During the pandemic we have increasingly heard how important it is that companies consider their corporate purpose. Typically, this results in a series of nebulous and hard to define concepts, created by marketing and consultancy firms. Return on Purpose looks at a variety of activities that a company undertakes and identifies individual RoIs for each of them to come up with an overall holistic view.

Read