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EMERGING TECHNOLOGIES AND THE FINANCE FUNCTION
Prepare for Disruption
The Association for Financial Professionals and our partners are pleased to present this report, which is the result of the first MindShift Summit in July 2017. That meeting could not have come at a better time for finance and treasury executives.
AFP 2017: Is Treasury At Risk of Automation?
Is your treasury job at risk of someday being automated? Tuesday at the AFP 2017 Executive Institute, an expert panel debated whether practitioners’ jobs are truly in danger of being phased out—or if they are simply evolving with the times. Moderator Jim Kaitz, president and CEO of AFP, began by noting that AFP and its membership are increasingly focusing on technologies like blockchain, artificial intelligence (AI) and application programming interfaces (APIs), which are gradually infiltrating treasury and finance. While these technologies can potentially make corporate practitioners’ lives easier, there is a growing concern that introducing more automation into the system could ultimately result in reduced headcount in a corporate function that is already becoming leaner overall.
Good Cash Management = Less Banking
The most effective route to efficient cash management is to minimise banking – balances at banks and flows through banks – because such third-party interactions inevitably increase both risks and costs.
I have had the pleasure of chairing and moderating a few conferences recently. This gives me the opportunity to hear lots of insights. Here are some of my favourite ones.
We had the pleasure and honour of Piyush Gupta (DBS CEO) as keynote at the ACTS/ATC Forum in Singapore. DBS’ mantra of “joyful banking” has always irked me. I feel that banking is about execution of primary transactions that are important to me – I don’t feel happy about a mortgage, it’s the house that excites me; when I buy a product or service that I want, I just want the payment to go through without hassle.
On 03 October, DBS announced the public release of its free cash management optimiser, Treasury Prism, which went on to win a prize at EuroFinance Barcelona’s Innovation Alley. Treasury Prism puts treasurers in control of their cash management by providing technical, regulatory, and tax resources to investigate alternative cash management arrangements.
The next-generation operating model for the digital world
Companies need to increase revenues, lower costs, and delight customers. Doing that requires reinventing the operating model. Companies know where they want to go. They want to be more agile, quicker to react, and more effective. They want to deliver great customer experiences, take advantage of new technologies to cut costs, improve quality and transparency, and build value.
Toward an integrated technology operating model
Companies may be able to get digital transformations off the ground by separating digital from conventional IT, but that approach is not sustainable. Here’s a better way. Technology organizations are now expected to play a central role in helping companies capitalize on new digital capabilities—connectivity, advanced analytics, and automation, for instance. These capabilities can help them build deeper relationships with customers, launch new business models, make processes more efficient, and make better decisions.
Bringing Basel IV into focus
How banks can mitigate €120 billion in capital requirements and avoid an ROE haircut. The Basel III regulatory framework was developed to enhance the stability of the financial system by raising requirements on regulatory capital and liquidity. Basel III increased thresholds for capital quality and quantity, raising Tier 1 capital requirements, introducing buffers and leverage-ratio requirements, and adding the Common Equity Tier 1 requirement (CET1) (see sidebar, “Basel III, TLAC, MREL, and more”).
IFRS 9: A silent revolution in banks’ business models
Banks have addressed the technical requirements of the new rules, but what about their significant strategic implications? Here’s how to prepare.
Singapore Payments Roadmap.
Enabling the future of payments
2020 and beyond
The evolution of the payments ecosystem forms a vital component of helping Singapore accomplish the Smart Nation Vision and maintain its position as the financial heart of Asia.
Monetary Authority of Singapore Credit Rating Grant Scheme
The SGD Credit Rating Grant scheme ("Scheme") seeks to further develop the SGD bond market by encouraging issuers of SGD-denominated bonds to obtain credit ratings and issue rated SGD bonds.
Under this Scheme, qualifying issuers who issue rated SGD bonds; and/or retrospectively rate their outstanding SGD bonds, can offset 100% of the expenses attributable to obtaining the credit rating(s). Qualifying issuers may apply for funding more than once, provided there are multiple qualifying issuances and that all eligible expenses are incurred within the funding period of the Scheme and does not exceed the aggregate cap of SGD400,000 per qualifying issuer.
The Scheme is valid for a funding period of five years from 1 April 2017 to 31 March 2022
MAS Green Bonds
Keynote Address by Mr Lawrence Wong, Minister for National Development and Second Minister for Finance, at the Investment Management Association of Singapore's 20th Anniversary Conference on 23 March 2017. He announced an incentive for green bonds to grow the market, and also a new corporate structure for investments.
See infographics for green bonds grant
in Simplified Chinese
Corporate Treasury Centres – a New Horizon for Hong Kong’s Financial Industry
han, Chief Executive, Hong Kong Monetary Authority, who talked about encouraging large Mainland enterprises to set up their corporate treasury centres (CTCs) in Hong Kong.
The ACTS & ATC Treasury Forum welcomed 217 delegates, by invitation, from 93 multinationals and local corporates, mainly from Singapore and with representatives from Hong Kong, Malaysia, Australia, Canada and the United Kingdom.
Keynote address by Piyush GUPTA, Chief Executive Officer and Director, DBS Group.
Some presentations, approved by their authors to share:
Taking Treasury to the Cloud
from Crown World Mobility
from GN Store Nord
from Tan Chong Group
The IACCT & ATC Treasury Forum welcomed 190 delegates, by invitation, representing government bodies, multinationals, local corporates and State-Owned Enterprises mainly from Hong Kong as well as representatives from Australia, Singapore, Europe and the United Kingdom.
Keynote address by Vincent LEE, JP, Executive Director (External), Hong Kong Monetary Authority.
Some presentations, approved by their authors to share:
Tax benefits of setting up a Corporate Treasury Centre (CTC) in Hong Kong
Why Corporate Treasury Centre (CTC)?
CNY in International Operation
Taking Treasury into the Cloud
SWIFTgpi – a platform for innovation in financial technology
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