TreasuryCast

Airlines have made significant commercial progress since the pandemic, yet many still struggle with profitability. Standard Chartered explore the role of treasury in bringing this vital sector up to speed.

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world's largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 6th May 2025.

Steering a course around the complexities of treasury and cash flow in today's dynamic global environment can feel like being in the wheelhouse without an up-to-date sea chart – and treasurers face the ongoing challenge of adapting to these conditions. Here, in the third in a series of TMI guest columns written by leading experts from ING Transaction Services, Tibor Bartels, Head Transaction Services ING Americas, combines perspectives from both sides of the Atlantic. He offers insights into the evolving demands on treasurers, the role of technology, and the critical need for banking partners to bridge regional and global operations.

With disruption showing no signs of slowing in 2025, TMI's Tom Alford speaks with Paul Stafford, Co-founder and CTO of Deaglo, about a risk modelling blind spot that financial managers may be overlooking, and could avoid. On Black Swan events, Stafford argues that while they can't be predicted, they can be planned for. He challenges whether most risk managers, including treasurers, are truly equipped to respond when the unexpected hits.

In a world where payments are becoming increasingly rapid and interconnected, banks must adapt to meet the obstacles surrounding the need to improve existing systems and respond to the growing expectations of customers by offering an optimal user experience. Here, Société Générale's Isabelle Poussigues, Global Head of Products and Network Management, Corporate and Investment Banking, and Frantz Teissèdre, Head of Public Affairs, Cash Clearing Global Transaction and Payment Services, discuss the best way forward for all stakeholders.

Following the recent row-back by certain US corporates on their DEI programmes, we explore the possible impact of curtailments through the eyes of those who have worked to establish them, and ask if it's time for a rethink?

Why (and how) Treasurers Must Conquer their Digital Mountains Businesses are repeatedly told that data is the new gold/oil in terms of value to its owners. Yet sources of information can often be found scattered around the organisation as if it had little or no worth at all. In this exploration of data, we will seek to provide treasurers with a solid starting point for bringing structure to relative chaos.    

Collaboration between fintechs and banks, an increasing trend in recent years, is also necessary to deliver useful solutions to treasurers, not just e-commerce merchants.

Explorations of AI in treasury management yield many questions for the cautious and adventurous treasurer alike. Barclays' Divya Kesavan, Head of Corporate Data Science & Insights, Global Transaction Banking, and Ope Olomo, Innovation Director, European Transaction Banking, present a balanced view of AI's role in treasury and beyond.

As elections reshaped the global economy in 2024, corporate treasurers are finding themselves having to navigate shifting trade policies, currency volatility, regulatory changes, and technological disruption. Agility, resilience, and strategic foresight will be the key to success in 2025 and beyond.

Now is the time for treasurers to future-proof their organisations' methods of instruction to their banks and embrace digital channels of communication. Here, in the second in a series of TMI guest columns written by leading experts from ING Transaction Services, Anthony van Vliet, Global Head of Trade Finance and Working Capital Solutions, examines why it is time to swap the ageing inbox for a cutting-edge platform.

Cybercrime and fraud are the subjects of perennial concern for banks and corporates. And as the world continues to digitalise rapidly, opening up new avenues of attack for increasingly sophisticated cybercriminals, their worries are only intensifying.

What is keeping treasurers up at night right now? It's a question that might once have had a straightforward answer – interest rates, currency swings, or cash flow visibility. But as geopolitical uncertainty collides with economic recalibration, trade realignment, and digital disruption, there's no single thread to pull.

The fundamental goal of a private equity (PE) house – an investment firm that specialises in acquiring, building, and disposing of businesses – is to use its (often institutional) investors' funds to buy companies it considers to be of ‘improvable value'. It will then set out a broad strategy to achieve that value, with the typical aim of holding its investment for around three to five years.

Automation offers treasurers a chance to make processes more efficient, save time and money, and enhance controls around cash management. For those just embarking on such a journey, understanding where to start and defining the goals is essential for a successful outcome.

Supply chains are critical to the global economy and recent events have demonstrated the need to minimise disruption and keep funds – as well as goods – moving. By allowing financial institutions to step into the payment cycle, supply chain finance gives corporate treasurers a useful tool to optimise their working capital, especially when times are unpredictable.

Koaloo.Fi's online supplier financing solution is aimed at adding profitability and performance to the list of benefits afforded by ESG-enabled trade.

When the Chinese multinational Haier acquired Italy-based Candy, it consolidated and integrated the new European treasury into its group structure. The household appliance company grappled with multiple countries, entities and currencies across the region and needed to find a way to gain greater visibility and efficiency with its cash management.

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world's largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 4th April 2025.

Contemporary treasurers face rising FX volatility, interest rate uncertainty, and geopolitical disruptions. How can they adapt? Eleanor Hill (TMI) speaks with Rahul Badhwar (HSBC) and Volkan Benihasim (HSBC) about building resilience, improving forecasting, and leveraging AI. Our panel also explore liquidity shifts, supply chain realignment, and strategies for managing risk in an unpredictable world.

With interest rates declining, are MMFs still the ‘steady hand' investors need in an uncertain world? Eleanor Hill (TMI) sits down with Sandrine Rougeron and Patrick Siméon (Amundi) to explore the core applications of MMFs, including liquidity, capital preservation, and competitive returns. Our guests discuss how MMFs compare to other short-term investments, why these funds deserve more investor attention, and how Amundi is innovating in the space.

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world's largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th March 2025.

What does it take to succeed as a woman in finance?  In this special International Women's Day episode, Eleanor Hill (TMI) speaks with Aurélia Normand (BNP Paribas CIB) about driving success as a female leader in transaction banking.  Aurélia shares insights on the power of mentorship, the responsibility of senior leaders in championing women, and how integrity influences decision-making under pressure. 

Get direct insights into how AI can simplify and automate your treasury functions—transforming your team's efficiency and boosting forecasting accuracy. Eleanor Hill (TMI) sits down with Naty Yifrach (Taboola) and Matthew Harlan (Nilus) to discuss how automation and AI is disrupting the treasury management space by providing real-time visibility into cash flow, more accurate cash forecasting, and automated cash reconciliation, empowering finance leaders with the tools they need to take control of their cash and become more strategic leaders.

Eleanor Hill (TMI) is joined by Manish Kohli (HSBC) and Amit Mallick (Accenture) to explore how AI is revolutionising treasury, and in particular, commercial payments. Our guests discuss AI's disruptive impact on commercial payments, from fraud prevention and FX optimisation to strategic decision-making. They share practical insights on accelerating adoption and explain why, whilst not a silver bullet, AI holds immense potential to add significant value to treasury operations. Visit the HSBC Treasury Solutions Group website to read the full report: https://tinyurl.com/yc2bh83d

The recently formed Baltic Treasury Association (Baltrea) aims to build a collaborative, treasury-focused ecosystem across the Baltic region. In this discussion, the association's Founder and Advisory Group Chairman, Alex Ilkun, talks to Tom Alford (TMI) about Baltrea's purpose, achievements, and future goals, highlighting its value to treasury professionals. Discover why Baltrea was created, who can join, and how it is shaping the region's treasury landscape.

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world's largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 6th February 2025.

In this candid conversation, Rijuta Jain (FIS) explores the challenges and opportunities shaping today's payments landscape. From fraud risks to increasing payment volumes and connectivity hurdles, Rijuta explains how payment hub technology resolves critical issues through AI-driven fraud detection, centralised processing, and seamless bank API integration. Our guest also addresses common misconceptions around payment hubs and uncovers their full potential for businesses of all sizes.

Steve Wiley (FIS) examines how treasurers can address rising capital costs and volatility by leveraging AI and APIs. Our guest explores strategies for improving liquidity management, enhancing cash forecasting, and tackling technology adoption roadblocks. Discover key takeaways around how contemporary tools provide much-needed visibility to assist treasurers in navigating the current unpredictable financial landscape.

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world's largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 7th January 2025.

Ben Poole (TMI) sits down with Claus Bässler (Daimler Truck) to discover how Daimler Truck established an independent treasury following its spin-off from Mercedes-Benz.  Discover the critical priorities for day one, challenges encountered, and how treasury processes have evolved over two years. Claus also shares insights into the differences post-spin-off and offers practical advice for treasurers embarking on similar journeys. This podcast is a must-listen for those navigating treasury transformations.

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world's largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th November 2024.

TMI's Ben Poole speaks with Enhesa's CFO, Laurent Marcelis, about navigating the challenges of rapid global growth.  Learn how the team has optimised treasury and finance processes, ensured efficient management of senior debt obligations, and supported financial stability throughout a whirlwind expansion. Laurent describers where treasury can add strategic value in the planning process, providing actionable insights for treasurers planning growth through acquisitions.

TMI's Ben Poole sits down with William Potts and Nick Batty to uncover how Rotork, a global leader in flow control and instrumentation solutions, reshaped its treasury operations across APAC.  This candid discussion explores the drivers behind the company's transformation, from streamlining payments and collections with a global e-banking solution to enhancing FX management and implementing a cross-border cash pool centralised in Singapore. Learn why BNP Paribas emerged as their partner of choice for the project, as well as how aligning cash management globally delivered significant benefits.

Join Daniel Farrell (Northern Trust Asset Management), Karl Adams (ICD), and Jean-Philippe Bernard (John Deere Cash Management S.A.) as they explore how treasurers navigate risk and return in today's market. Discover insights on diversifying portfolios, the appeal of MMFs, debunking liquidity myths, and planning for efficiency—all tailored to the challenges of the current interest rate environment.

Tom Alford (TMI) is joined by HSBC's Florence Tan to highlight the critical importance of establishing supply chain resilience. Florence offers key insights on why treasurers have a crucial role to play in helping trade flows to run smoothly, from navigating geopolitical shifts and AI-driven digitalisation to defining ESG goals. Tune in for a candid discussion on tools and strategies to drive value in the SCF space.

Eleanor Hill (TMI) is joined by Rajesh Vedantham (Standard Chartered) to explore the impact of ISO 20022 and the efforts being made to drive adoption of this new payments standard. Don't miss the key steps corporates need to take for successful ISO 20022 adoption, and the best practices around implementation. You'll also hear views on the current progress of migration, leaders in the field and insights on how those falling behind can close the gap.

Peter Crawley (HSBC) joins TMI's Tom Alford in the TreasuryCast studio to discuss bank resilience and the common threats that are facing today's treasury operations. With a running theme of how bank's are facing potential disruption, Peter outlines the critical questions treasurers should ask their banks, explains how real-time payments remain protected, and highlights how collaboration strengthens systemic resilience within an unpredictable world.

Eleanor Hill (TMI) joins Winnie Chen (Bank of America) to explore the evolving landscape of global payments and advancements in real-time cross-border transactions. In their discussion, Chen and Hill examine shifting client needs and how these align with broader industry trends. They also emphasise the need for treasurers to pay attention to real-time capabilities, and outline key payment priorities for the months ahead.

Eleanor Hill (TMI) spoke with Sunday Domingo (Standard Chartered) at the 2024 Sibos conference to discuss the double-edged role of new technologies in finance, with a particular focus on what financial institutions are doing to protect their clients. This candid conversation covers the evolving nature of threats and how criminals are now using AI to their advantage. They examine the impact of real-time payments and the risks of combining this with AI, emphasising the need to prevent real-time automated fraud. Domingo also outlines straightforward steps organisations can take to defend against the rising tide of cybercrime.

Eleanor Hill (TMI) is joined by Maarten Lossie (ING) to reflect on the recent trends and developments within the cross-border payments space. In this podcast, Hill and Lossie cover the challenges that financial institutions face in offering customers a seamless, user-friendly payments experience. They also discuss how the G20's roadmap for cross-border payments is progressing, and consider what the future of payments could look like.

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world's largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 7th November 2024.

Jerald Seti (ION Treasury) and Wim Grosemans (BNP Paribas) join Ben Poole (TMI) to discuss how corporates can successfully migrate to the ISO 20022 financial messaging standard and maximise its benefits. Explore the key advantages of ISO 20022 and why urgent action is crucial. For those yet to begin their ISO journey, this podcast highlights the ideal starting point. And for those already progressing, learn how to fully leverage ISO 20022 for optimal results.

Eleanor Hill (TMI) is joined by Ole Matthiessen (Deutsche Bank) to discuss the issues that are top of mind for corporate treasurers in the Asia Pacific region, and which macroeconomic factors are at play. They delve into how supply chains are shifting and how the approach of multinational corporations to managing these effectively has evolved. Also, they discuss how customer needs are changing and how business models are being transformed.

Jane Cooper (TMI) is joined by Bhriguraj Singh and Florence Tan (HSBC) to examine how the macro environment has affected global trade and why companies need to bolster their supply chains. They also discuss how business models have changed, as well as how trade digitisation is progressing, and solutions are evolving. And, despite the major news events that have the potential to disrupt trade, Singh and Tan elaborate on the fundamentals that always remain.

Recently, Amit Baraskar (Thomas Cook India) joined Tom Alford (TMI) in Copenhagen to discuss how India is positioning itself as an innovative powerhouse in today's digital landscape. In this podcast, Amit provides insight into India's tech-driven society, examining the key factors propelling its rapid digital transformation. In addition, he explores the thriving fintech ecosystem, which has garnered strong support and investment, and discusses how treasury professionals are increasingly involved in this space.

ION Treasury's Jacqui Drew sits down with Tom Alford (TMI) to uncover how corporate treasuries can effectively calculate and leverage ROI in their TMS evaluations. Jacqui considers whether treasuries are typically expected to provide an ROI metric during the assessment phase, explores ways to calculate ROI based on company-specific goals, and identifies key criteria for tracking success throughout a TMS' lifecycle. She also provides valuable advice on optimising ROI for treasurers, ensuring both impactful buying decisions and long-term vendor relationships.

Michael Smith (Winterflood Securities), Bryn Jones (Rathbones Group), and Sarah Boyce (ACT) join TMI to discuss the UK's most significant debt capital market reforms in a generation.  They explore the impact of the new UK Listing Rules and POATRs framework, the growing inclusion of retail investors, and what these changes mean for issuers and investors alike. Our panelists also debate the consequential benefits and challenges of these reforms for UK debt markets.

Fiona Horsewill (HSBC), Vivek Ramachandran (HSBC) and Manish Kohli (HSBC) discuss how global trends are impacting the future of securities services, global trade, and cross-border payments. They cover the major trends in the current landscape, including how global trade flows are shifting, the progress of trade digitalisation and what can be done to increase the pace of adoption. Also, they delve into the wave of changes that is impact the payments infrastructure, including the migration to ISO 20022 and how payments are adapting to new business models. Finally, they look to the future with the new technologies that are taking hold, such as digital assets and tokenisation.

Jane Cooper (TMI) is joined by Manoj Dugar and Mark Evans (HSBC) to discuss how global payment trends are evolving and how financial institutions and corporates are adapting. They delve into why the current payment trends are important, and why it is necessary for organisations to adapt to the latest technological advancements. They also cover the challenges that institutions face with payments, and where their priorities lie. Also, they discuss the current developments with international payments and whether the world is truly ready for real-time cross-border transactions. And finally, they elaborate on the progress that is being made with ISO 20022 and the different approaches that financial institutions and corporates have been taking to realise the full benefits of the new standard.

Matthew Davies (Bank of America) joins TMI's Tom Alford to explore the latest developments emerging from the ever-changing payments landscape that treasurers should be conscious of. Matthew highlights the benefits of tools like BofA's Virtual Payables Direct for both buyers and sellers, and examines the potential impact of the upcoming EU instant payments regulation. Lastly, our guest considers how treasury departments are adapting to the rapid pace of technological change.