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What are the newest developments in treasury services for small and medium-sized banks?

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Treasury services are essential for small and medium-sized banks to manage their cash flow, liquidity, risk, and compliance. However, the traditional methods of treasury management are often costly, inefficient, and outdated. That's why many banks are looking for new ways to leverage technology, data, and innovation to improve their treasury operations and offer better value to their customers. In this article, we will explore some of the newest developments in treasury services for small and medium-sized banks, and how they can help you achieve your strategic goals.

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Nilesh Dabholkar

Experienced tech leader driving innovation & technological solutions. Skilled in architecture, cloud, and devops…
RAMPRASAD SRINIVASAN

SENIOR VICE PRESIDENT at YES BANK LTD

1 Cloud-based solutions

One of the most significant trends in treasury services is the adoption of cloud-based solutions that enable banks to access a range of functionalities and services without investing in expensive hardware and software. Cloud-based solutions can help banks reduce operational costs, enhance scalability, improve security, and streamline integration with other systems and platforms. For example, some cloud-based solutions offer real-time visibility and analytics of cash positions, forecasts, and transactions across multiple accounts and currencies. Others provide automated reconciliation, reporting, and compliance tools that reduce manual errors and risks.

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Nilesh Dabholkar

Experienced tech leader driving innovation & technological solutions. Skilled in architecture, cloud, and devops methodologies. Award-winning developer.
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Cloud-based solutions benefit by offering cost-effective, scalable, and secure platforms. They streamline operations, enhance risk management, and ensure compliance, empowering banks to provide efficient financial services in a competitive market. They offer - Scalability: Easily adapt to changing needs without major investments - Security: Robust encryption and regulatory compliance - Efficiency: Faster data processing, and improved collaboration - Innovation: Access to AI, machine learning, and blockchain Leveraging cloud technology enables rapid deployment, real-time data access, seamless integration, reduced infrastructure costs, enhanced data analytics, and streamlined operations, enabling a competitive edge in the financial landscape.

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2 Application programming interfaces

Another key development in treasury services is the use of application programming interfaces (APIs) that allow banks to connect with external providers and platforms and exchange data and services seamlessly. APIs can help banks enhance their customer experience, diversify their product offerings, and access new markets and opportunities. For example, some APIs enable banks to offer instant payments, cross-border transfers, and digital wallets to their customers, while others allow banks to access alternative financing sources, trade finance solutions, and market data and insights.

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RAMPRASAD SRINIVASAN

SENIOR VICE PRESIDENT at YES BANK LTD
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APIs as a service is longer a luxury, but an essential part of banking product for medium and large corporate customers. It helps banks in reducing the cost and enhance the customer experiences which inturn increases the stickiness.

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3 Artificial intelligence and machine learning

Artificial intelligence (AI) and machine learning (ML) are also transforming treasury services by enabling banks to automate processes, optimize decisions, and generate insights. AI and ML can help banks improve their efficiency, accuracy, and agility in treasury management, as well as provide personalized and proactive services to their customers. For example, some AI and ML solutions can help banks automate cash forecasting, liquidity management, and risk mitigation, while others can help banks analyze customer behavior, preferences, and needs, and offer tailored solutions and recommendations.

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4 Blockchain and distributed ledger technology

Blockchain and distributed ledger technology (DLT) are also emerging as new developments in treasury services that offer potential benefits for banks and their customers. Blockchain and DLT can help banks create secure, transparent, and decentralized networks that facilitate transactions, contracts, and records without intermediaries or delays. For example, some blockchain and DLT solutions can help banks streamline trade finance, invoice financing, and supply chain financing, while others can help banks reduce fraud, compliance costs, and operational risks.

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5 Customer-centric platforms

Finally, one of the most important developments in treasury services is the shift from product-centric to customer-centric platforms that aim to deliver value-added solutions and experiences to customers. Customer-centric platforms can help banks differentiate themselves from competitors, increase customer loyalty and retention, and grow their revenue and profitability. For example, some customer-centric platforms can help banks offer holistic and integrated solutions that address customers' pain points and goals, while others can help banks engage with customers through multiple channels and touchpoints, and provide feedback and support.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are the newest developments in treasury services for small and medium-sized banks?

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1 Cloud-based solutions

2 Application programming interfaces

3 Artificial intelligence and machine learning

4 Blockchain and distributed ledger technology

5 Customer-centric platforms

6 Here’s what else to consider

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