 Platforms that combine bank expertise and fintech innovation are set to be the future for FX
With a changing global outlook following the Covid pandemic, and a growing number of companies finding new markets around the world, the need for corporate treasurers to have a good grip on their FX risk, transactions and related costs, is greater than ever. Many treasurers are starting to question whether their traditional bank partners alone can meet all their FX needs, yet are increasingly unwilling to accept lengthy implementation processes to set up new systems. This is according to speakers at a Treasury Dragons Debate on The Future of FX, supported by Hedgebook, who see a growing demand for automated end-to-end solutions to enable faster decision-making.
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 Societe Generale is to partner with Kyriba to launch the its new treasury management solution for coporate clients. The cloud-based solution which will include payment automation and fraud management functions, will be available on SG Markets, the Bank’s digital client portal for corporates.
Alexandre Maymat, Head of Global Transaction and Payment Services at Societe Generale, said, 'Treasury management is a key area of focus for companies and we believe it is essential to make this easier through simple, efficient and secure tools. This partnership also inaugurates other collaborations that we will be keen to develop with Kyriba to ensure we can always better anticipate and meet the needs of our clients.' Societe Generale, plans to launch the new solution to clients in Q4 2021, starting with the French market. Setting up an in-house bank offers significant benefits for multinational companies, but is often perceived as complex and expensive to set up. Asking the right questions is a great start, says Nikolai Diekert
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