RBS makes good first impression at GCBG spring meeting.
We want to thank first-time, NeuGroup meeting-sponsor RBS for their support and contributions to last week’s Global Cash and Banking Group (GCBG) sessions at Google. RBS’ International Cash Management and International Banking colleagues proved to be a welcome addition to the leading global banks that have supported the GCBG. Among the key takeaways from the March 20-21 meeting:
Future-proof your treasury. A session on treasury innovation was framed by technology changes in mobile platforms (mostly tablet driven) and SEPA.
- Being more XML-fluent. SEPA helps underscore the importance for treasury managers to become “XML fluent” to successfully migrate toward an e-everything future that includes greater connectivity via SWIFT as well as compliance with euro and eventually global payments mandates.
Shared Services to Shared Solutions. A session on best practices in Shared-Services Centers (SSCs) also highlighted the importance of technology and the blurring governance lines for SSCs between finance and IT functions. This is part of an emerging trend toward shared solution centers emphasizing higher-value, technology-enabled solutions and not mere centralized back-office processing.
- Will bank regulations and Dodd-Frank erode the attractiveness of In-House Banks? New platform descriptions might also help in other ways. The growing popularity of in-house banks as a centralizing platform for corporate treasury activities has triggered concern regarding the extent that regulations aimed at mitigating the systemic risk of the banking system are allowed to spill-over to anything modeled after a bank.
In addition, we also thank our GCBG members for your participation and contributions to last week’s meeting.
The Global Cash and Banking Group is part of the functional treasury segment of the NeuGroup Network. Formed in 2004, this NeuGroup for MNC global cash managers brings together its members biannually to discuss optimizing treasury operations in response to current challenges.