Corporates need to accelerate treasury automation
Many vendors believe corporate treasurers should be doing more to eliminate superfluous accounts, protect payment data and direct resources to improving paper-based processes.
Treasury teams should be consolidating account structures, strengthening security controls and focusing on digitization initiatives that result in quantifiable efficiency benefits, according to JPMorgan’s latest 'Forecasting Payments' report.
There is no doubt that corporates have made much progress in areas such as multi-factor authentication, encryption and behavioural analytics to protect payment data and reduce fraud while minimising customer friction and strengthening compliance and risk controls.
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