LyondellBasell, headquartered in the Netherlands, is one of the largest plastics, chemicals and refining companies in the world. With its global presence and significant operations in the United States, the company has been affected by the IBOR reform. The Treasury team was well aware of this impact and proactively approached the transition away from the IBOR rates in order to be ready ahead of time.
In a changing global floriculture market, Royal FloraHolland created a new digital platform where buyers and growers can connect internationally. As part of its strategy to offer better international payment solutions, the cooperative of flower growers decided to look for an international cash management bank.
MODEC, the world’s largest independent operator of offshore floating production systems for the oil and gas industry, was managing its foreign exchange (FX) hedging process manually. In 2020, the company decided to automate this process, successfully reducing the time spent on it from three days to within one day.
Switzerland’s Swiss Re is the world’s second largest provider of reinsurance and insurance-related risk products. Traditionally the company insures events that can lead to huge losses, such as natural disasters. Two years ago, this reinsurer decided to further strengthen its payment processes.