BankingTalking Shop
December 8, 2022

Talking Shop: Interest Rates for In-House Banks

Editor’s note: NeuGroup’s online communities provide members a forum to pose questions and give answers. Talking Shop shares valuable insights from these exchanges, anonymously. Send us your responses: [email protected] Member question: “For those that use an in-house bank/cash center, can you share the interest rates you use on the excess funds loaned to the in-house bank? “Does the in-house bank/cash center pay the lending entity: “An overnight rate “A monthly interest rate “A rate that matches the rate on the investment made…
BankingCash & Working CapitalRegional
November 3, 2022

Sending More Cash Out of China Using Pools in Free Trade Zones

Unpacking a member’s cash pool in China in a free trade zone where window guidance put no limit on cash outflows. Many NeuGroup member companies face a challenge getting cash out of China—in part because of rules limiting outflows from cash pools set up under a so-called nationwide scheme to 50% of the net equity held by a company’s entities in the country. But not all multinationals have this problem. At a recent session of NeuGroup for Global Cash and Banking, one member…
Capital AllocationCash & Working Capital
May 12, 2022

A Treasury Mind Shift: Focusing On Operational Cash

Many treasuries have grown complacent about cash levels, but concerns about a recession are triggering a renewed focus on optimizing the management of working capital.The debate about whether the US economy is headed into a recession because of higher interest rates and the Fed reducing its balance sheet is heating up. While some economists are bullish, many corporate treasuries are not: In a poll last week, 71% of members of NeuGroup for Global Cash and Banking said a recession is…
Cyber riskRisk ManagementTechnology
February 24, 2022

Spending to Save: Making a Case for Payments Fraud Prevention Tools

Turning to banks, internal auditors and ERM teams may help treasury teams overcome a dearth of fraud data.  Payments fraud schemes hit 74% of companies in 2020, and two-thirds of treasury and finance professionals blame the pandemic for some of the increase in fraud at their companies, according to an AFP survey. Whatever the causes, the problem has made tools that can prevent scams more important than ever. But some treasury teams in need of those solutions are hitting a…
October 7, 2021

A Treasury Dream Coming True: Handing KYC to Corporate Governance 

One treasury team made a winning case that the governance group should own KYC.Call it reaching the treasury promised land or a dream come true. Whatever you call it, one treasury team’s early-stage success at shifting responsibility for know your customer (KYC) compliance to a corporate governance group generated plenty of buzz and some envy at a recent meeting of NeuGroup for Global Cash and Banking. “I’m really excited to get out of the KYC business,” the member told his peers…
CryptoCyber risk
September 30, 2021

The Treasury Cryptocurrency Handbook, Chapter 1: Ransomware

Finance teams prepare for questions on crypto as corporates plan for ransomware attacks.Cryptocurrency and ransomware proved popular topics at a recent meeting of NeuGroup for Global Cash and Banking, during both the Projects and Priorities session and in a smaller breakout group. Some members are being asked how treasury plans to respond if cryptocurrency is needed in the event of a ransomware attack.Most members said their companies have no current interest in investing in or holding cryptocurrency.  A few members…
September 16, 2021

A Bank Connectivity Crystal Ball: The Future Promise of Open APIs

Perspective on where APIs are adding value from a global bank that’s ahead of the curve.A banker at a top US global bank invited to a recent session of NeuGroup for Global Cash and Banking said real-time balance (intraday) reporting is the bank’s most popular API, followed by payment transaction tracking. Regarding “as a service” offerings: Real-time reporting will be part of the bank’s larger vision for reporting as a service to provide real-time balances and FX rates.That will be…
September 9, 2021

Tapping APIs to Power Better Bank Connectivity

Progress on connectivity with APIs starts with payments and administrative efficiency, GCBG members learned at a recent meeting.Members of NeuGroup for Global Cash and Banking got a realistic assessment of the state of bank connectivity with open APIs at a recent meeting sponsored by ION Treasury, a top provider of treasury management systems. ION’s perspective, an example from a member company and comments from a global bank considered ahead of the curve with APIs provided a view of the current…
August 19, 2021

Send in the Robot: Automating Bank Account Signatory Maintenance

One corporate’s solution uses RPA and ServiceNow to solve the problem of updating signatories on bank accounts.Treasury teams at multinational corporations with scores of banks and hundreds of bank accounts often struggle to find out in a timely manner when the people who are signatories on those accounts—spread across the globe—change jobs or leave the company. That’s a problem. One member of NeuGroup for Global Cash and Banking recently described to peers how her company solved the problem by creating…
Talking Shop
August 5, 2021

Talking Shop: Debating Soft Tokens for Online Banking Access

Editor’s note: NeuGroup’s online communities provide members a forum to pose questions and give answers. Talking Shop shares valuable insights from these exchanges, anonymously. Send us your responses: [email protected] Member question: “Do you allow soft/mobile tokens for online banking access instead of physical tokens? If so, do you limit it to personnel with company-issued cell phones? “Did your IT team have any concerns with allowing soft/mobile tokens?” Peer answer 1: “We currently only issue physical tokens, but we are having the…