February 2018

Tomorrow’s treasury is making waves today, says Thomas Stosberg. In advance of Bellin’s 1TC Treasury Convention in Rust, Germany, with data increases cyber-security breaches, and real-time payments becoming more real by the second

In an article published by 1TC on 6 February 2018, Deutsche Bank’s Director of Messaging, Integration and Convesion Products, Cash Management, Thomas Stosberg sets out three main trends for digital transformation and disruptive technologies that have moved out of futuristic scenario planning into a treasurer’s “business as usual” roadmap.

These are:

1. Cyber-security and big data

In line with the EIU Report on  Third-party risks, the cyber dimension shared by Deutsche Bank at EuroFinance 2017 in Barcelona, Stosberg points out, “Someone might receive an incoming email apparently containing an urgent payment request from the CFO or even the CEO (CEO Fraud) – but it would actually be a scam that looked deceptively real. Once processed, it is rarely possible to reverse such payments and get the money back.” On big data, he observes, “big data analytics and artificial intelligence (AI) are providing a pivotal role, and payment solutions making use of them are gaining ground.”

2. Real-time payments

While “Payments being credited to the beneficiary within a minimum amount of time is a growing treasury requirement that will be accelerated this year,” Stosberg counsels caution. “Treasurers making use of real-time payments should be aware of the fact that this also carries a certain risk, as there are no longer any corresponding bank services to reverse a transaction.”

3. Blockchain and cryptocurrencies

Despite all the noise surrounding these technologies, “when it comes to payments, the technology is still in in its infancy,” notes Stosberg. He points out that the bank is a member of the Utility Settlement Coin consortium. “In the financial sector, there are not just legal issues that need to be addressed, but two other important topics: digital identity and how to represent ‘fiat’ money, e.g. EUR or GBP on a distributed ledger,” he says.

To read the full article click here and to download full details of the 1TC Treasury Convention, click here.

Thomas Stosberg

Digital Client Connectivity Products | Cash Management, Deutsche Bank AG

Thomas Stosberg

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