Experts Share Their Insights and Views
A transformation in cash management strategies and processes is underway across Southeast Asia, driven by new digital norms and the increasing demand for instant payments. According to the report, this shift is affecting businesses of all sizes.
Cash Management in Southeast Asia
With the rise of contactless and instant payments, companies are looking for ways to adapt their cash management strategies to stay competitive. OCBC’s Group Chief Strategy and Transformation Officer & Head of Global Transaction Banking, Melvyn Low, recently discussed this trend.
The importance of timely and frictionless systems for cash management, payments, collections, and liquidity within and across borders cannot be overstated. Ecobank is at the forefront of effective cash management solutions for businesses within Africa, particularly in trade reforms and customs.
Reimagining Banking with Technology
Arun Jain, Chairman and Managing Director of Intellect, and Chief Architect of Purple Fabric, outlined a bold vision for what he calls the “fifth wave of banking”: an era defined by AI, Cloud, and Design Thinking. This new approach to banking is expected to bring significant changes to the industry.
As businesses look to capitalize on growth opportunities, they seek banking products, solutions, and tools that help them deliver on their evolving transactional and operational needs. Raiffeisen Bank International is one of the banks providing these services.
In the middle of this transformation, it’s clear that banks will need to prioritize the needs of their customers, providing them with fast, agile, and reliable payment solutions. This could involve leveraging digital cash management tools to provide 24/7 banking services.
Supply Chain Finance and Digital Transformation
As corporates continue to face challenges such as increasing inventory, spiking interest rates, and general market volatility, they seek financing solutions to help them optimize working capital, enhance liquidity, and make their supply chains more robust. Societe Generale is one of the banks offering supply chain finance solutions.
The adoption of cloud-enabled solutions is set to transform trade finance, with companies like Surecomp at the forefront of this trend. This shift is expected to increase collaboration between banks and corporates, and across markets and sectors.
As the pace of digitization accelerates worldwide, the role of AI in trade finance is becoming increasingly important. SmartStream is one of the companies leveraging AI to improve trade finance operations.
For businesses, especially small and medium enterprises, having access to sophisticated cash management tools is essential. These tools can help level the playing field, allowing them to compete with larger corporations.
They can provide a range of benefits.
