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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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Using SEPA to review payment factory benefits

With the Single Euro Payment Area (SEPA) deadline just six months away, many companies are busy preparing to use SEPA-compliant payment standards. With the restructuring that this entails, is now a good time to consider the benefits of a payments factory?

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Are We Overstating the Advantages of SEPA?

Many articles that have appeared in gtnews have stressed the benefits that will result for corporates and treasuries from the single euro payment area (SEPA). However, Arn Knol of Zanders suggests that the advantages may prove to be rather more unevenly distributed.

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Restrictive Economies: Insurmountable Challenge or Small Obstacle?

There is a clear trend of corporate treasuries undertaking major treasury transformation projects with a focus on increasing efficiency, enhancing visibility and reducing costs. The issue is examined by Mark van Ommen, associate directors for Zanders, in the first of his blogs for gtnews.

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Is SEPA the perfect opportunity for implementing a payment factory?

Payment factories and SEPA are two of the most-discussed topics within corporate treasury in recent years. On gtnews alone there are over 230 articles on payment factories and over 500 articles on the single euro payments area (SEPA). In this article, the two topics are dealt with together. Firstly, we look at payment factories in general and then we determine whether SEPA can be used as a catalyst for reviewing and changing a corporate’s payment process, which might result in the implementation of a payment factory.

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