TMI270

52 TMI | ISSUE 270 INTERVIEW Head,CashManagement for Transactional Products &Services, Standard Bank DUSHENTHATHIAH especially in East Africa. However, the requests typically come from smaller businesses that want the ability to bank on the go, rather than large corporates. Typically, the latter have office-bound treasury functions and they therefore do not believe the benefits outweigh the risks, especially cybersecurity concerns. EH: How do you support your clients from a cybersecurity perspective and on their own digitisation journeys? DT: All of our platforms have two-factor authentication.This is a critical component of cybersecurity, and it helps build trust and reassurance among our clients. We help themunderstand the true benefits of digitisation, and enable them to see beyond the concerns. We also work with them to design an optimal digital architecture – offering the benefits of new technology alongside the right controls to remain secure. EH: Are there any other new or evolving technologies that are going to be relevant for corporate treasurers going forward? DT: Artificial intelligence [AI] and robotic process automation [RPA] certainly hold promise for treasurers. We have seen examples of these technologies being put to use in various areas of treasury – from cash flow forecasting to bank reconciliations. Banks are also looking for ways to leverage these technologies to better interpret the client data they hold, and to provide analysis to treasurers around their buyer and supplier relationships and payment behaviours, for example. As well as giving corporates better insights into their cash flows, this helps the bank to understand where they can better support clients with financing options. EH: What parting advice do you have for treasurers who are not necessarily up to speed with their connectivity at the moment? DT: There is no need to back just one horse in the channels race. Interactive channels and integrated channels will continue to live side by side in the banking environment in Africa. To make the most of innovation, however, treasurers should work with a banking partner that has the scale, expertise and budget to invest in technology – while taking cybersecurity very seriously. Standard Bank has innovated consistently over the past 156 years and we continue to push the treasury envelope in Africa. Through our own investment in technology and strategic partnerships with fintechs, we can offer a flexible and agile technology stack to treasurers, giving them instant gratification and greater efficiency, within a secure environment. Of course, we will continue to offer branch services across the continent too. Digitisation is not right for every corporate; not just yet. n