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The KYC burden on corporates

A centralized approach to manage KYC

It is mandatory for financial institutions to investigate whether cash is being used for money laundering, financing terrorists and criminal activity. Criminals exploit any situation to pursue their damaging activities and the recent increase of cybercrime shows that the COVID-19 situation is no exception. The purpose of KYC (Know Your Customer) is to protect the global financial system from being used for fraudulent activities. Banks play a key role in identifying suspicious transactions. To determine whether a transaction is suspicious, banks need to know their clients and their possible changed activities. The flip side, however, is that the KYC burden on corporates has already increased since the previous (financial) crisis. Will the KYC burden further increase or are there ways to release the burden?

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B2B fintech: Payments, supply chain finance & e-invoicing guide 2017

The Paypers has released a dedicated guide with global insights into the transaction banking, B2B payments, supply chain finance & e-invoicing markets.

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Trends and challenges in treasury technology

Treasury and Cash Management Technology Survey

The key findings of the first annual Treasury and Cash Management Technology Survey, by Zanders and Citi Treasury and Trade Solutions, highlight some of the trends in the deployment of enterprise resource planning (ERP) systems and treasury management systems (TMSs) and the challenges as perceived by the corporate treasury practitioners who use the systems.

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Corporate challenges

How to deal with payment fraud and cyber crime?

In the past few years, many companies have centralized their payment processes by setting up a payment factory. The main focus of these types of projects is often on change management and technical implementation. This means that operational risk and control issues, which arise when the execution of payments is transferred from several local entities to one central entity, do not always get the attention they deserve. Operational risks that can be identified relate to payment fraud (internal risk) and cyber crime (external risk). How should companies deal with these challenges? In this article, two experts provide their points of view.

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Today’s cash management

Managing an organization’s cash flows and streamlining its financial logistics is of paramount importance to managing liquidity risk and optimizing interest charges. There are various ways to streamline daily cash management and Zanders has extensive experience in implementing the new structures in this area. Associate Director Hugh Davies explains.

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