The revised Payment Services Directive (PSD2) is a new European regulation that aims to benefit all end users in the payments space, both consumers and businesses alike. How is it relevant for you?
Your remote control in bank account management
An increasing focus on bank account management is being observed among European corporate customers. Worldwide treasury trends such as centralization, standardization and the increasing independence of banks have been gathering pace for several years. These trends have spurred the implementation not only of traditional treasury management systems, but they have also driven an increase in centralized payment factories, bank rationalization plans and SWIFT connectivity solutions.
Expect strategic and operational roles to diverge
In the year ahead, the key developments in strategic cash and treasury management will be influenced by four ongoing global trends: standardization, centralization, virtualization and bank independence. The combination of these trends is likely to lead to dramatic changes by fostering a separation between the operational and strategic functions of treasury departments.
Two sides of the same coin
Cash visibility and working capital management are a priority at a time when credit is no longer readily available – smart choices in both areas are necessary to weather the financial crisis.