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When open banking emerged four years ago, many industry experts spoke of its numerous benefits and its vast possibilities. With open banking, banks open up their APIs, which creates opportunities for these non-banks to offer apps that provide fast payments, helpful account information and other services. Being able to access banking information so openly promises huge potential in being able to download customer and business data immediately and allow for faster decision-making and risk profiling across B2B and B2C financial products. As we reflect on its impact four years on, we speak to some ..read more

An uncertain economic outlook and across-the-board intensification of risk for corporates means securing visibility and control is now of paramount importance for treasurers, according to Martin Runow, global head of payments, FX and digital at Barclays Corporate Banking. Runow says that during the pandemic, treasurers were rightly worried about continuity of business and while there were promising signs of an economic revival as the pandemic abated, a number of shocks then took hold and have created considerable economic uncertainty. They include, at the global level, supply chain disruption ..read more

(May 04) Citi is extending its instant payments offering to the Single Euro Payments Area (SEPA). The launch will provide clients with the ability to pay to and receive from 36 SEPA zone countries instantly, with SEPA Credit Transfers actioned within seconds on a 24/7 basis, and funds available to recipients immediately. (May 13) Enterprise payments software group Bottomline Technologies has been acquired by Thoma Bravo, a software investment firm, in an all-cash transaction valued at approximately $2.6bn. Bottomline also announced that Craig Saks, previously President of the firm, is taking o ..read more

The key to unlocking the enormous potential of Open Banking for corporates and SMEs alike is the quality of the technology that underpins it, according to Ralph Bragg, co-founder and chief technology officer of UK-based Raidiam. The six-year-old fintech has just played a fundamental role in helping Brazil implement a nation-wide project that is already showing value to smaller enterprises. “Often people talk about what Open Banking can deliver for other sectors – or ways that its use could be extended – but it’s not open banking itself that is the key here. It’s the technology that sits behind ..read more

An uncertain economic outlook and across-the-board intensification of risk for corporates means securing visibility and control is now of paramount importance for treasurers, according to Martin Runow, global head of payments, FX and digital at Barclays Corporate Banking. Runow says that during the pandemic, treasurers were rightly worried about continuity of business and while there were promising signs of an economic revival as the pandemic abated, a number of shocks then took hold and have created considerable economic uncertainty. They include, at the global level, supply chain disruption ..read more

The concept of open banking has gained huge interest since it entered the public conversation a few years ago. It refers to the opportunities which lie in making banking information more accessible, on both a B2C and B2B basis – whether it is through the ability to access bank statements, payment information, downloadable data and more. For corporate treasurers who are responsible for ensuring financial success and risk of their employers, the benefits are numerous. They include: better access to company data, faster decisions and better risk profiling – and we have a panel of experts bel ..read more

(May 04) Citi is extending its instant payments offering to the Single Euro Payments Area (SEPA). The launch will provide clients with the ability to pay to and receive from 36 SEPA zone countries instantly, with SEPA Credit Transfers actioned within seconds on a 24/7 basis, and funds available to recipients immediately. (May 13) Enterprise payments software group Bottomline Technologies has been acquired by Thoma Bravo, a software investment firm, in an all-cash transaction valued at approximately $2.6bn. Bottomline also announced that Craig Saks, previously President of the firm, is taking o ..read more

A myriad of hurdles are preventing corporate treasurers from utilising or even adopting bank APIs. Despite becoming increasingly common, APIs are still not universally standardised, with banks often having slight differences in how they transmit data. “What we realised is [banks] all have a different approach and different way of transferring data,” said Janko Hanh, head of treasury operation at Autoneum Management, an automotive parts supplier when speaking at BAFT’s annual meeting. “Many banks are completely developing [APIs] on their own. That is a big burden for the client because they can ..read more