By analysing data in different and quicker ways, AI is another emerging tool able to inform corporate treasury functions. “One AI example I’ve seen is anomaly detection around a currency,” says Matthew. “Risk falls under the treasury function, as do currencies, so these tools exist and will only grow over time.”
Presentation is key
How data-rich information is presented to treasurers is also poised for a step change. Visual analytics that simplify complex information flows are improving all the time to present data in almost real time. As an innovation, it can provide new ways for businesses to derive insights and make decisions with confidence. Matthew says insurance – where much of the activity is in looking for anomalies – is one sector waking up to the potential of visual tools. Integrating payments data into a visual dashboard would be a logical step.
Fast-forward to blockchain
The most forward-looking technology for treasury is blockchain. Matthew believes its adoption by treasury could be five years away once the current hype calms down, but the case for how it could benefit is already building. “With a blockchain architecture, there is proof of transactions, which is why it’s been quite popular with some leading banks in international payments, for instance. It’s an instant verification of a transaction into a permanent record, which can be disclosed immediately to other parties, such as a regulator or auditor.