We hope you enjoy the June edition of the EACT Newsletter.
As ever, please do follow the EACT LinkedIn page for the very latest member association news and treasury insight.
Jean-Marc Servat
Chair, EACT
In this issue:
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In this session, held on 24 June, our panel – comprising corporate treasurers from Aliaxis, ArcelorMittal and SWIFT, the CEO for the Global Legal Entity Identifier Foundation (GLEIF) and EACT – discussed how to streamline and digitise customer-reference data and due diligence processes in treasury applications.
Participants emphasised that there is a large untapped potential in leveraging technological advancements, data standardisation, and regulatory changes to lower the burdens associated with data-heavy treasury and compliance processes. At the same time, doing so would also enhance the security and efficiency of data-driven treasury processes across all relevant relationships – customers, suppliers, banks etc.
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From among a field of strong competitors, Deutsche Bahn AG has been named the winner of this year's EACT Award. The German railway company impressed voters with its Digital Treasury project. Learn more about the initiative, and find out which corporate companies were selected as the remaining five finalists.
Since the UK has remained part of the Single Euro Payments Area (SEPA) scheme, some banks and corporates were not too worried about Brexit from a payments’ perspective - as the cheap and efficient handling of payments seemed guaranteed. However, some banks have seized the opportunity to increase fees for payments to and from the UK.
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For corporate treasurers transferring money in local currency in more 'exotic' territories can be a real issue. Even large global banks are unable to serve you properly in some of these faraway countries. Therefore, what are the solutions?
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Treasurers are dealing with stress like never before, perhaps, but then they were always used to being put under pressure, surely, and should be able to cope fine with a bit of lockdown, right? This article explains why this is a dangerous attitude and offers valuable insights into how treasures can cope in stressful times.
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The end date for LIBOR is just months away. For those treasurers who haven’t acted already, now is the time to identify LIBOR exposures, have a contingency plan for accidental oversights, and understand the different challenges presented by the new market risk-free rates.
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When global air transport infrastructure provider SITA was seeking to extend its cash buffers, Germany’s Schuldschein market caught the eye of its Group Treasurer and Finance Director, Andrea Sottoriva. Find out why issuing debt mid-pandemic has been a positive experience for all.
What role can treasurers play in the fight against cybercrime and fraud? Our latest EACT in Action webinar offers answers to this question from an expert panel that included the Deutsche Bahn AG treasury team.
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We are delighted to share this photo of Dr. Gerd Berghold accepting the award on behalf of the treasury team at Deutsche Bahn.
View More.png "EACT Survey 2021")
This annual survey shows that despite the COVID crisis, top priorities of corporate treasury remain the same. No one will be surprised to see Cash-Flow Forecasting as the number one priority, followed by digitization (and automation) of treasury processes. Today Treasury would like to rely more on technology and innovations proposed to become more resilient and more efficient.
View More.jpg "Podcast | How to Streamline Customer Reference Data in Treasury Processes")
A panel of experts consider how treasurers can streamline customer-reference data and due diligence processes in treasury applications.
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On 24 June the EACT organised the first event of its EACT in Action live event series, showcasing important issues that treasurers across the EACT community are tackling.
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