Innovation, Inspiration and Implementation of Instant Payments

One of the most important payment innovations that we are likely to see over the next two or three years is the birth of instant payments in Europe. Although similar payment schemes already exist in individual countries such as UK (Faster Payments) and Singapore (Fast and Secure Transfers – FAST), Denmark (express transfers) and Australia (in development), the introduction of instant payments across the Eurozone will revolutionise payments across 338.3 million people and 19 countries. BNP Paribas is leading innovation and driving momentum in instant payments, recognising that instant payments represent a once-in-a-decade opportunity to improve customer satisfaction, reduce cost and fraud, and revolutionise both established and emerging sales models.

An Integrated Approach to International Payments

Digital innovations over the past five years have changed dramatically not only the way we work, communicate and socialise, but also our expectations of how data can be used to transform processes, intelligence and services. If we buy a product or service online, for example, we can place an order, make and authorise a payment, receive notification of the order status, and track delivery from dispatch to arrival. Each of these points reflects a different step in the physical and financial supply chain, which in a large company would be managed by a distinct business function and set of systems. From a customer perspective, however, these steps are all part of one transaction. A joint interview with Adrian Brown and Wim Grosemans.

Sustainable by nature

Why we believe that durability is inseparable from cash management.
A tribune by Jean-François Denis, deputy head of cash management.

eBAM: Questions and answers on account management: a meander through the issues of a current debate

Hervé Postic of UTSIT and Karine Amas from BNP Paribas are privileged observers of the new trends affecting business, especially developments in banking connectivity. Here, they share their thoughts on the prospects for eBAM and the challenges it presents.

Consolidated Billing Reporting out in the open

At first sight, one would think that managing banking fees present no major challenge. But the combined complexity of operating in multiple geographies and the inconsistency between regional practises and regulation means that this apparently straightforward issue can be a major challenge for treasurers and for banks. The growing focus on Consolidated Billing Reporting (CBR) is particularly timely.

Blazing new trails in the Nordics

Hotspot for innovation, hothouse for automation, hot bed for centralisation: “The Nordics”, as we refer to them in the Cash Management community, are truly hot stuff. Ranking high in the Global Innovation Index*, they are also undisputed frontrunners in many other fields, from societal to business. Nordic corporates are no exception to the rule, so let’s find out which challenges and opportunities the Scandinavian setup creates.

EuroFinance Copenhagen: a quick summary

There was so much going at EuroFinance in Copenhagen this year that we had to make some tough choices. Here is a selection of things that we heard and found particularly inspiring.

The 7 pillars of payment centralisation

A survey of 155 participants at Universwiftnet 2015 highlighted a broad scope of realities behind payment factories with different expectations as a result. Seven key questions were identified as having a direct impact on the level of centralisation that corporates choose.

Finding your way in the payment factory maze

The world of payment factories is all but static. Quite the opposite, it shows a constant momentum that makes it difficult to keep up with change and innovation. And its variable-geometry semantics brings more complexity. Time to set the record straight and make sense of it all.

Extending the EBICS Value Proposition

With SEPA migration now complete, treasurers are able to leverage the opportunity to harmonise payment and collection processes, formats and infrastructure, both in Europe and beyond. Treasurers in Germany in particular face a dilemma: how to supplement the existing domestic payments protocol, EBICS, to facilitate efficient payments in other markets? Or is there an opportunity to leverage this protocol to support their international business strategy?

Andrej Ankerst, Head of Cash Management, Germany & Austria and Steven Lenaerts, Head of Product Management Global Channels, BNP Paribas write in the Innovations in Payments and Collections Special Edition of TMI.