Atlar and HSBC Innovation Banking Collaborate to Support Fast-Scaling Companies Like Joint Customer Liberis
This is a press release from our partner, Atlar New integration gives companies like Liberis real-time visibility and control over treasury, directly within the Atlar platform Atlar and HSBC Innovation Banking UK have entered into a collaboration to support the treasury management needs of fast-growing and innovative companies. The partnership brings together HSBC Innovation Banking UK’s global banking infrastructure and Atlar’s modern treasury platform to streamline cash management, enhance visibility, and improve control for finance teams operating at scale. A connected, real-time treasury stack for high-growth companies Joint customers of HSBC Innovation Banking and Atlar benefit from a more connected, automated, and real-time treasury setup—fully integrated with modern ERP systems where needed. Going beyond a standard connection, this partnership unlocks a seamless solution powered by real-time APIs. Atlar’s API integration with HSBC Innovation allows customers to connect their accounts in minutes—accelerating onboarding and making treasury management more efficient. Key benefits include: Liberis: Automating treasury for an embedded finance pioneer One company already realising the value of this partnership is Liberis, a global embedded finance platform that provides personalised funding solutions to small businesses through its network of partners. With operations in Europe and North America, Liberis has funded over $2.5 billion to more than 60,000 small businesses since 2007. By connecting its HSBC accounts to Atlar, Liberis has gained real-time visibility across cash positions and streamlined key treasury workflows like payment runs and cash flow forecasting—freeing up its finance team to focus on strategic decision-making. The platform plays a central role in managing liquidity and ensuring control across entities. “With Atlar and HSBC Innovation Banking, we’ve built a treasury setup that gives us real-time visibility, better control, and the flexibility to support our growth across markets.” — Sean Fanning, Finance Director at Liberis “This collaboration brings together the best of both worlds: HSBC Innovation Banking’s global banking capabilities and Atlar’s modern treasury technology. Together, we’re helping fast-scaling companies automate manual processes and gain the visibility they need to scale with confidence.” — Joel Nordström, Co-founder and CEO at Atlar “At HSBC Innovation Banking UK, we work with some of the most ambitious and innovative companies in the world. Partnering with Atlar enables us to offer our joint customers a more seamless and efficient treasury experience, with real-time connectivity and automation at its core.” — David McHenry, Head of Treasury and Trade Solutions at HSBC Innovation Banking UK The collaboration reflects a shared commitment to supporting businesses with the tools and infrastructure needed to operate efficiently and grow with confidence. Together, Atlar and HSBC Innovation Banking are helping finance teams navigate increasing complexity and take control of their treasury. For more information about how Atlar works with HSBC Innovation Banking UK, get in touch. About Atlar Atlar is the modern treasury management system for the new economy — giving scaling finance teams real-time visibility and control through a single platform connected to their banks and ERPs. By managing these connections, Atlar accelerates time-to-value and simplifies complex financial infrastructure. Ambitious, tech-driven companies like Forto, GetYourGuide, Mangopay, Storytel, Tide, and Zilch rely on Atlar to automate cash management, payments, and forecasting through powerful, user-friendly tools. Backed by world-leading investors Index Ventures and General Catalyst, Atlar is also a preferred partner of industry leaders, including NetSuite, Citi, and Nordea. About HSBC Innovation Banking HSBC Innovation Banking provides commercial banking services, expertise, and insights to the technology, life science and healthcare, private equity, and venture capital industries. HSBC Innovation Bank Limited is a subsidiary of HSBC Group, benefiting from its stability, strong credit rating, and international reach to help fuel its growth. Also Read
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The 4 E’s of Micro-Hedging Programs
This article is written by Kantox This blog explains the nuts and bolts of micro-hedging programs and the benefits they provide to corporations. By using micro-hedging programs —either on a standalone basis or in combination with other programs—, finance teams are in a unique position to: So let’s dive in and explain how companies can profit from these four E’s. Eliminate FX risk. Enhance control. Earn more. Embrace currencies. Micro-hedging programs are API-based software solutions that allow corporate treasury teams to effectively hedge their exposure to currency risk —whatever the number of transactions— with a high degree of automation, visibility, and control. They are emerging as a key element in most corporate FX hedging strategies. The versatility and ease-of-use of micro-hedging programs, even when many currency pairs are involved, are proving themselves a must-have in different setups: The first “E”: eliminate currency risk At first sight, the notion that currency risk can be removed with great precision, even when many transactions in different currency pairs are processed, may seem a bit outlandish. To understand how micro-hedging works, the notion of market monitoring plays a key role. Thanks to API connectivity, stop-loss and take-profits are set around the FX rate at which a piece of exposure known as an entry —a firm order or an invoice— is received from company systems (ERP, TMS, others). As long as the FX rate trades inside this corridor, new entries are accumulated into positions. Because each entry arrives at a different moment, and therefore at a different exchange rate, the system needs to automatically calculate the weighted average exchange rate. When either of the boundaries of the range is hit, the position is automatically hedged. From the FX risk management point of view, the benefits of this procedure include: But what about hedging precision? Here’s precisely the point. When the drill is performed during sufficiently long periods of time, something interesting happens: “Over time, the stop-loss and take-profit orders tend to offset each, resulting in fluctuations around a central point. While financial time series exhibit skewness and other complexities, the overall risk typically decreases as the process unfolds” — Andrea Perissinotto, FX Data Analyst Team Lead, Kantox And that’s how micro-hedging virtually eliminates FX risk, either in the context of transaction risk or in terms of accounting risk. The second “E”: enhance control In our blog Debunking 4 Currency Management Myths: Protecting Profit Margins in 2025, we discussed some myths surrounding FX hedging. We could have included another one: the notion that automation weakens managers’ control over their hedging programs. In fact, the opposite happens. Currency Management Automation makes it possible for finance teams to strengthen control throughout the different phases of the FX workflow. To illustrate the point, treasurers can, at any point in time: When it comes to validating exposure data, treasurers can enforce a manual validation process according to different criteria in terms of amount, maturity, and currencies. Checkpoints are also available during the trade and post-trade phases. By way of example, Nutrien, a Canadian crop inputs provider, recently announced a $220m loss on FX derivatives transactions in Brazil: “We recorded a foreign exchange loss of $220 million on foreign currency derivatives in Brazil for the second quarter of 2024 […] we have a material weakness related to our controls over derivative contract authorization in Brazil” — Nutrien The company blames “an individual outside applicable internal policy and authority”. How do automated micro-hedging programs deal with this issue? From the outset, any derivatives transaction is numerically traced back to the corresponding exposure. A fraudulent trade will thus have a very hard time progressing from the ‘pre-trade’ to the ‘trade’ phase. Traceability and control Control is also enhanced by the traceability feature of micro-hedging programs. Across the journey from entry to position, to conditional order, to operation, and to payment, each element has its own unique reference number. In addition, payments carry the operation reference within their SWIFT message, allowing funds to be traced throughout the entire payment process. Whenever a position is hedged, it is possible to trace it back to the original entries, including the exchange rate. This is called end-to-end traceability. Among other control-related tasks, it makes it possible to: The third “E”: earn more The third “E” of micro-hedging programs can be illustrated with a simple proposition: improve profit margins by always contracting in the cheapest currency. With currency risk under control, managers avoid the misplaced temptation of buying directly in their firm’s own currency. The truth is that the underlying FX risk never goes away — it is merely transferred onto suppliers, who then apply markups to protect themselves from the underlying risk. By removing this friction, markups are sidestepped, and contracting costs are reduced. This example from the Travel industry illustrates the point: (*) Note that the margin increases to 5.5% by using the forward rate of 0.9730 instead. Forward points are favourable because —as interbank interest rates are higher in the U.S. than in Europe— the exchange rate translates into a higher forward EUR value, compared to spot. This gain can be used to reduce contracting costs. The fourth “E”: embrace currencies The fourth “E” of micro-hedging programs —embrace currencies— flows from the previous three. With FX risk under control, enhanced control over the workflow, and supplier markups out of the way, managers can confidently sell in more currencies. Thanks to Multi-Dealer Platforms such as 360T, to which micro-hedging programs are connected, treasurers can execute trades —in favourable liquidity conditions— in the currencies of a number of small, but well-managed economies: SEK, NOK, CAD, AUD, NZD, SGD, and KRW. A recent Amadeus survey about consumers’ attitudes shows: For firms with international operations, the conclusion is simple: you should sell in the currency of your customers. Some of the benefits include: This is happening already. A Bloomberg News article shows evidence that currency managers are sidestepping USD to conduct business in other currencies. French firms Saint-Gobain, Bouygues Construction, Veolia, and Neoven are increasing…
Visa Exits U.S. Open Banking — What Corporate Treasurers Should Know
From Treasury Masterminds 1. Recent Developments: Visa Shutters U.S. Open Banking Unit In late August 2025, payments giant Visa decided to shut down its open banking operations in the United States. The unit had offered fintechs streamlined access to bank account data, helping with onboarding and transfers. However, heightened disputes between banks and fintech firms over data access fees ultimately prompted this retreat. Visa has instead shifted its focus toward Europe and Latin America, where regulatory frameworks mandate data sharing with authorized entities. In the U.S., the Consumer Financial Protection Bureau (CFPB) is revising regulations to strengthen consumer control over financial data sharing, based on Section 1033 of the Dodd-Frank Act. UPCOMING PODCAST Join us for “From Treasurer to TMS Trailblazer” with Quique Fernandez of Embat and discover how treasury leaders can shape the future of tech. Click below to register now and attend! 2. U.S. vs. EU: Open Banking Regimes in Contrast Europe (EU and UK) United States 3. Section for Treasurers: Practical Implications For corporate treasurers, these shifts hold tangible implications: Access & Integration Cost & Negotiation Dynamics Regulatory Compliance & Risk Strategic Impacts 4. Data: The Real Gold of Open Banking At its core, open banking isn’t just about APIs, payments, or fintech connectivity — it’s about data. Without reliable, high-quality data, open banking loses much of its value. For corporate treasurers, this means the real competitive advantage lies in how well you manage and leverage data flows. Those who invest in connectivity and ensure their internal data is structured, accurate, and ready will be best placed to extract value from open banking — regardless of whether the system leans toward monetization (U.S.) or mandated sharing (EU). 5. Conclusion Visa’s exit from U.S. open banking underscores the growing tension between banks and fintechs. The U.S. remains in a transitional phase, with new rules on the horizon but heavy pushback from incumbents. Europe, on the other hand, has a mature framework in place and is expanding into broader open finance models. Key takeaway for treasurers: If you operate in Europe, open banking already offers tangible opportunities for innovation and efficiency. If you’re focused on the U.S., prepare for a longer journey — monitor CFPB developments closely, ensure your treasury systems are flexible, and be ready to adapt as the landscape evolves. Also Read Join our Treasury Community Treasury Mastermind is a community of professionals working in treasury management or those interested in learning more about various topics related to treasury management, including cash management, foreign exchange management, and payments. To register and connect with Treasury professionals, click [HERE] or fill out the form below to get more information. Notice: JavaScript is required for this content.
5 Key Trends in Legal Entity Management and Compliance in 2025
This article is written by Treasury4 In 2025, several new trends are taking shape in the world of legal entity management and compliance—and treasurers must be prepared to adapt. Driven by digital transformation, changing regulations, and an evolving global business environment, legal entity management and compliance have never been more complex—or more critical. Staying ahead of these developing trends is crucial for maintaining agility, operational efficiency, and regulatory compliance. By anticipating these changes, you can help your organization avoid costly missteps and capitalize on opportunities to enhance operations. In this article, we’ll explore the top trends developing in legal entity management and compliance in 2025. Trend 1: Digital Transformation in Entity Management The digital revolution is reshaping how organizations manage their legal entities in several ways. A multinational corporation managing hundreds of global subsidiaries could previously spend weeks preparing for audits. Modern entity management technologies, like those mentioned above, simplify this process by allowing for greater accuracy and agility. Trend 2: Growing Regulatory Complexity and Globalization While globalization has opened new markets for businesses, it also means that those organizations must navigate constantly evolving, jurisdiction-specific laws and regulatory requirements. From tax regulations to sustainability and ESG requirements to data protection laws, staying compliant across multiple jurisdictions requires constant vigilance. For instance, the General Data Protection Regulation (GDPR) in Europe and the California Consumer Privacy Act (CCPA) in the United States have set high standards for data privacy within their specific regions. Meanwhile, local nuances in corporate governance, such as reporting formats or filing deadlines, can vary widely by jurisdiction. To address these challenges, centralized legal entity management platforms have become more critical than ever. Centralized systems ensure stakeholders can track regional requirements from one location and that all records are up to date, reducing the risk of non-compliance. Another emerging trend is closer collaboration between businesses and regulators. Organizations are leveraging technology to provide real-time updates to regulators, fostering greater transparency and trust. Centralized legal entity management platforms are also beneficial for tapping into and sharing data. Trend 3: Enhanced Data Security and Privacy In an era where more organizations than ever are experiencing data breaches, ensuring the security and privacy of sensitive entity data is paramount. New data protection regulations are on the horizon in various jurisdictions, making it imperative for organizations to stay ahead of compliance requirements. For example, stricter penalties for non-compliance with privacy laws are expected, emphasizing the need for proactive measures. Legal entity management platforms can help companies stay compliant with data security regulations and protect critical information. For instance, role-based access features ensure that only authorized personnel can view or edit sensitive information. This prevents unauthorized access, limiting the potential for breaches. It also allows employees to access role-specific tools so they can continue to do their jobs without sacrificing data security. Advanced systems also provide audit trail functionalities, which record every action taken within the platform. This feature is invaluable during regulatory audits, as it allows organizations to demonstrate compliance and trace any irregularities back to their source. Trend 4: Advanced Reporting and Compliance Monitoring Comprehensive reporting capabilities are poised to be a game-changer in legal entity management this year. As businesses grow and expand across borders, maintaining transparency has become more important than ever for stakeholders and investors. Advanced reporting tools are helping enhance this transparency. Dashboards and visual data representations offer a bird’s-eye view of compliance metrics. These tools allow stakeholders to monitor the status of filings, renewals, and other critical tasks in real time, enabling prompt, data-driven action when needed. For instance, a dashboard might highlight discrepancies between legal entity structures and bank account setups, helping teams address issues before they escalate. Organizations are also using advanced reporting tools to strengthen governance frameworks. By analyzing historical data, businesses can identify patterns and implement preventative measures to mitigate future risks. Trend 5: Talent and Expertise Challenges The legal and compliance sectors face a growing skills gap. As regulations become more intricate, the demand for professionals who can navigate these complexities is outpacing supply. We’re seeing several trends emerge in how organizations are addressing this need: Looking Ahead: The Future of Legal Entity Compliance The above trends indicate a clear trajectory toward more efficient, transparent, and secure legal entity management practices. As organizations embrace these changes, we’re seeing treasury teams embrace several key strategies: Legal entity management and compliance are at a crossroads in 2025. From digital transformation and regulatory complexity to data security and talent shortages, the trends shaping this field reflect the dynamic nature of global business operations. As we move forward, the message is clear: Organizations that embrace innovation and leverage advanced tools will lead the way in building resilient, compliant, and future-ready enterprises. Also Read Join our Treasury Community Treasury Masterminds is a community of professionals working in treasury management or those interested in learning more about various topics related to treasury management, including cash management, foreign exchange management, and payments. To register and connect with Treasury professionals, click [HERE] or fill out the form below. Notice: JavaScript is required for this content.
The 3 D’s: How to Get the Best From Your Cash Forecast
This article is written by Palm We talk so much about cash forecasting and it’s importance, however how we approach this critical task has barely changed in the last 10 years. We may have added more data and reference points to help the analysis, but fundamentally we are looking at what has happened, adding in some general ledger data, the FP&A forecast and hoping for the best. The treasurer may go a step further and add their own view of the business progression to give an extra flavour. But the real science behind the numbers is rarely understood or utilised. …And we wonder why we some months we are so accurate, and others we are so wildly inaccurate it’s comical. In this blog we explore how to approach the task of cash forecasting differently. How to use the latest technology to break through into the new era of looking-ahead. The Opportunity: Where we can add real value by using the latest tools? 1. Data The data we use in our forecasts doesn’t have to be purely financial data relating to your internal operations. Think outside of the box about other external factors that effect the success of the business. Is it the weather forecast, the performance of the economy or the marketing of competitor products? Whatever it is, you can use this data to improve the quality of your cash flow forecast. 2. Details Imagine you had unlimited time to analyse every piece of data you feed into your forecast, for example, you could build in logic to understand the payment behaviour of each of your customers knowing some always pay between 3-5 days late depending one which day the invoice falls due and when their weekly payment run is. Or, a model that understands that before year end, some invoices due for payment are brought forward to limit open balance sheet positions. However, instead of spending hours analysing and creating this logic, the model understands these trends and does it for you. 3. Direction Unlike your best Treasury Analyst, your machine learning forecast model will never leave you. Therefore spending time teaching it all that you know, speaking to it directly to explain why somethings are correct and others aren’t, is a time investment that will pay off in dividends over the years. You can tell your forecast, for example, that it has misunderstood the seasonality of your business due to strange one-off behaviour and to exclude this from the its trend analysis in future. Giving this feedback regularly will also help the model learn more about the business and the trends it detects. The Technology: What do we need to achieve this? Although not new, it is surprising how few treasuries are using AI and machine learning in their day to day operations. According to the 2024 Deloitte survey, it is less than 2%. Is this because the technology is not properly understood? Or it’s application hasn’t been facilitated in a way that is accessible to treasurers? My suspicion is that it is a mix of both. What are the technologies you can use to realise the benefits we’ve outlined in the above sections? Predictive AI Using different data sets, AI can predict what will happen with the future of your cash flows. The difference between this technology and your treasury team itself, is that you can supply many different and varying data sets in different formats to feed the model. This will have a limited impact on the amount of time the forecast takes to produce however will significantly improve the accuracy. The difference between predictive AI and generative AI is that predictive AI uses existing data sets to predict what will happen in the future and is therefore most relevant for producing you cash flow forecast. Generative AI however creates new and original content, such as the commentary to support the forecast and understand the cash flows. Machine Learning Mathematical models are the foundation of machine learning, often using several at once and testing each of them until you find a blend that works. These can be refined over time to achieve the optimal solution. The Reality- What will happen when you bring these technologies into your treasury? When applying these systems and models you will be required a change your expectations of your forecast model. The advantage of using mathematical statistical models to produce your cash forecast means it will predict your cash flow for you, however you must relinquish your power to the model. You need to accept that you will not be able to click into a cell in excel and see how a number is calculated. You will not be able to “follow it through”. As many of the trends of patterns it detects are not necessarily explainable. Of course you can adjust the forecast and amend it to include the additional information you have, you could also feed it with a set of assumptions you believe to be true as guidance for the model to follow, for example, headcount is set to grow by 2% each month from now until the end of 2025 however on the most part you will not be able to see its inner workings. To become comfortable with this will take time and adjustment, building trust in the model over time and conducting regular variance analysis to pinpoint the route cause of any differences will help both you and the model. However, it is in embracing these innovations and new ways of looking at data that we can truly unlock our cash and bring efficiencies into our treasury teams. Also Read Join our Treasury Community Treasury Masterminds is a community of professionals working in treasury management or those interested in learning more about various topics related to treasury management, including cash management, foreign exchange management, and payments. To register and connect with Treasury professionals, click [HERE] or fill out the form below. Notice: JavaScript is required for this content.
What If Trump Controlled the Fed? A Treasurers’ Nightmare (or Opportunity?)
From Treasury Masterminds Donald Trump has never been shy about saying the quiet part out loud. And one of his long-standing frustrations is the Federal Reserve. He wants more influence; he wants “his” Fed. But what if that actually happened? What if Trump, or any political leader, had full influence over the Fed? For treasurers, this is more than a political curiosity. It could mean a world where monetary policy shifts not on fundamentals, but on tweets, moods, or election cycles. Let’s fantasise for a moment what that world would look like. 1. Interest Rates on a Yo-Yo In a Trump-controlled Fed, interest rate decisions might become politically motivated: For treasurers, this means your hedging strategy becomes a guessing game. Forget stable forward guidance – instead, you’d live in a world of uncertainty, where risk managers become amateur political analysts. UPCOMING PODCAST Join us for “From Treasurer to TMS Trailblazer” with Quique Fernandez of Embat and discover how treasury leaders can shape the future of tech. Click below to register now and attend! 2. The Dollar as a Weapon Trump already loves to talk about “currency manipulation.” With full Fed influence, we could see direct interventions in FX markets to push the dollar up or down, depending on what fits the political script. For multinational treasurers: 3. Inflation Targeting? What Inflation Targeting? Central banks like to remind us that their mandate is “price stability.” But under political control, inflation could become a secondary concern. Imagine rates kept too low for too long, stoking inflation, simply because “growth looks good on TV.” For treasurers, this means: 4. The End of Central Bank Independence For decades, central bank independence has been a stabilising anchor. Lose that, and you lose credibility in the markets. If the Fed is seen as a political toy, we might see: That flows straight into corporate financing costs. Your next bond issue? It might come with a “Trump risk premium.” 5. Opportunity Amid the Chaos? It’s not all doom and gloom. Treasurers thrive in volatility (at least the good ones do). A Trump-influenced Fed could: The winners would be the treasurers who stop waiting for “certainty” and instead build resilience into their structures. Our 2 Cents Trump having full control of the Fed may sound like a fantasy—or a nightmare—but it raises a serious point:Treasurers cannot take central bank independence for granted anymore. Whether it’s Trump, another populist, or just political pressure creeping into monetary policy, we may be entering a new era where policy is less predictable, more volatile, and more political. And that means treasury teams need to adapt. Build flexibility, invest in systems, and prepare for the day when rate decisions are made in the Oval Office, not the Fed boardroom. Because if that day comes, you’ll want to be ready. Also Read Join our Treasury Community Treasury Mastermind is a community of professionals working in treasury management or those interested in learning more about various topics related to treasury management, including cash management, foreign exchange management, and payments. To register and connect with Treasury professionals, click [HERE] or fill out the form below to get more information. Notice: JavaScript is required for this content.
Bitcoin Treasury Management: A Guide for Finance Teams
This article is written by Fortris Treasury teams across the world are facing the same challenge: how to manage digital assets such as Bitcoin alongside traditional government-issued currencies and other financial instruments. The challenge becomes more complex when Bitcoin is used in day-to-day business operations as well as an investment asset. However, with a good understanding of the foundations of Bitcoin treasury management, the perceived barriers to adding Bitcoin to the balance sheet can seem much less daunting. This article will unpack exactly what is involved for finance teams in the day-to-day management of Bitcoin, from the underlying technology to risk management considerations and best practice. What is Bitcoin treasury management? In a traditional finance (TradFi) environment, treasury management is a multi-faceted discipline that can mean different things to different companies. Fundamentally, a corporate treasurer is responsible for maintaining the cash reserves required for the smooth running of the business. They may also be tasked with managing funding and investment activities, and – depending on the size of the organization – carrying out day-to-day finance operations. Treasury management as an umbrella term can involve multiple roles beyond that of the treasurer, from the CFO to management accountants, internal audit teams and compliance. Bitcoin treasury management involves all these core functions, but with the added dimension of being underpinned by blockchain technology. There are also different accounting and tax requirements for Bitcoin and other digital assets. Differences between fiat treasury management and Bitcoin Bitcoin is a blockchain-based digital asset and as such, it has characteristics that make it distinct from fiat (government-issued currencies such as USD), and other financial instruments such as stocks and bonds. A blockchain is a completely decentralized network that is secured by cryptographic functions. Bitcoin transactions are created, executed, and confirmed by a network of computers called nodes, and all transactions are recorded in the publicly available ledger of the Bitcoin blockchain. Bitcoin transactions are validated by a network of computers, instead of a central authority like a bank. As a result, Bitcoin is a digital currency that cannot be controlled or manipulated by any central authority. This has both benefits and risks, as we shall see. Benefits of Bitcoin in treasury management 1. Transparency. Although it may seem paradoxical, blockchain-based systems like Bitcoin are designed to protect the privacy of individual users while at the same creating a public record of every single “on-chain” transaction. This built-in transparency makes it easier for audit and compliance teams to do their jobs. 2. Less counterparty risk. Removing the reliance on third parties such as banks minimizes exposure to counterparty risk. The dramatic collapse of Silicon Valley Bank in early 2023 was a stark reminder that businesses cannot be complacent about the risk of so-called black swan events. Even if deposits are eventually restored thanks to insurance or government intervention, companies can face a liquidity crisis in the short to medium-term. 3. A truly borderless network. Treasury teams within large multinationals face a multitude of challenges when it comes to cross-border payments. Settlement can be delayed by factors such as FX market cut-off times, currency controls at national level and hefty fees via the correspondent banking network. Bitcoin operates without borders or cut-off times, making universal T+0 settlements a reality. Challenges around Bitcoin for treasury teams Some of the challenges for treasury teams when it comes to operating with Bitcoin are the same as dealing with fiat currency. We will cover issues such as cybersecurity and liquidity management in more detail below. On top of this, there is a new set of metrics when it comes to reporting and analysis. These include: It is important to understand the extra metadata that a Bitcoin transaction generates and make provisions to record this accurately and consistently. How to manage a Bitcoin treasury To take full advantage of the inherent transparency of the Bitcoin network, and to ensure that there is no single point of failure when it comes to controlling funds, an organization needs to have a robust governance structure when it comes to executing and approving payments and generating reports. User roles and governance Ideally, the governance structure of a Bitcoin treasury system should map to the same access control measures that exist for the fiat part of the business (assuming that the business is not crypto-native). This allows for measures such as: Cash flow analysis Having a clear overview of the inflow and outflow of funds is essential for cashflow forecasting in fiat treasury management. This is also the case in Bitcoin. Accurate cash flow analysis relies on data being up-to-date and without the lags caused by manually updating spreadsheets. This is even more the case with Bitcoin, when tracking the cost basis of a discrete unit of Bitcoin (technically referred to as a UTXO) allows a treasurer to decide when to hold it and when to execute a realized gain or loss. There are two key functions that any Bitcoin treasury management approach must have to allow this to happen: The need for these tools will be determined by the volumes of payments coming into and out of the business. If this is likely to change over time, such tools will allow the business to scale its processes accordingly. Bulk payments This is a consideration for businesses looking to make repeat payments of the same amount each month. The most typical example here is Bitcoin payroll, for companies that wish to pay regular employees all or some of their salary in Bitcoin, either as a value-added incentive or as a streamlined way of operating geographically distributed teams. Having a bulk approvals mechanism will significantly speed up payment flows of this kind. Accounting and tax A comprehensive review of accounting considerations is beyond the scope this article. However, detailed Bitcoin bookkeeping through subledgers provides a solid basis for accounting workflows. Financial reporting Beyond accounting and tax, robust financial reporting can support business intelligence research (for example, an analysis of Bitcoin mining fees over time) as well as fulfilling internal and external audit requirements. TradFi enterprise resource planners (ERPs) such as NetSuite…
The Upgrade You Didn’t Know You Needed
By Jessica Oku | Board Member, Treasury Masterminds By November 2025, SWIFT will fully deactivate legacy MT formats for cross-border payments, finalizing its transition to the ISO 20022 messaging standard. For many, this is seen as just another compliance milestone. But for forward-thinking treasury teams, it represents something much more seismic: ISO 20022 isn’t just a messaging upgrade, but a strategic enabler for real-time treasury, intelligent liquidity, and frictionless global operations. What is ISO 20022? ISO 20022 is a universal financial messaging standard based on XML and a shared data dictionary. Unlike MT messages, it enables structured, machine-readable, and extensible payment data creating a unified language for financial communication. It powers: “By 2025, ISO 20022 will support 80% of global high-value payments by volume and 87% by value.” SWIFT ISO 20022 Adoption Timeline Why Treasurers Should Care 1. Real-Time Cash Visibility With camt.053 (bank statements) and camt.054 (intraday reports), treasury gains: “ISO 20022 adoption improves straight-through processing (STP) by 10–15% in mature payment environments.” EY Global Payments Report, 2024 2. Automated Reconciliation at Scale Structured remittance fields improve AP/AR automation: “Corporates can reduce reconciliation efforts by 30–40% with ISO-native ERP and TMS systems.” Capgemini Payments Transformation Report 3. Smarter Treasury Reporting ISO 20022 enables cleaner, smarter datasets: When your data is structured from the source, reporting becomes strategic, not reactive. The Missed Opportunity Too many organizations are focused on bank compliance rather than data optimization.You might be sending ISO-compliant messages…But are you using the enriched data to drive better liquidity and funding decisions? Strategic Moves for Treasury Teams As a Board Member of Treasury Masterminds, I encourage CFOs and treasurers to take these steps: In conclusion “ISO 20022 is to Treasury what fiber optics was to telecom; richer data, faster flows, and exponential potential.” Don’t just comply with ISO 20022. Capitalize on it. Is your treasury team preparing for ISO-native intelligence or simply surviving the migration? Join the conversation in the Treasury Masterminds community. Let’s make ISO 20022 a lever for strategic transformation, not just another IT migration. References Also Read Join our Treasury Community Treasury Mastermind is a community of professionals working in treasury management or those interested in learning more about various topics related to treasury management, including cash management, foreign exchange management, and payments. To register and connect with Treasury professionals, click [HERE] or fill out the form below to get more information. Notice: JavaScript is required for this content.
When a CFO called me at 7 AM on a Tuesday
written by Jeroen Overmaat with his background of Sales at Kyriba Amsterdam, July 12, 2025 The phone rang while I was making coffee. My prospect’s CFO’s, who I met at a CFO event a couple of months ago, voice was tense. “We need to talk about our liquidity position. The board’s asking questions I can’t answer.” This wasn’t the first time I’d heard this conversation. Over the past few months, since I started this job at Kyriba, I’ve watched countless treasurers scramble to provide real-time visibility into their cash positions while their CFOs faced mounting pressure from boards demanding better liquidity risk management. The numbers tell the story. According to the latest Deloitte survey, 96% of treasurers say their top mandate from the CFO is safeguarding against liquidity events. Yet, most are still managing this critical function with spreadsheets and manual processes. The morning that changed everything Six months ago (it was actually one of my first serious Sales calls as a new Sales at Kyriba), I sat across from a treasury director at a €500 million manufacturing company specializing in heavy construction equipment. Let’s call him Mark. His company operated globally with subsidiaries across the Netherlands, China, Brazil, Norway, and Italy, serving the renewable energy, oil and gas, and civil engineering markets. Mark’s CFO had just delivered an ultimatum: get real-time cash visibility across their international operations, or start looking for external help. Mark’s challenge wasn’t unique, but it was particularly complex. His team was downloading bank statements manually from portals, sharing them via email, then consolidating weekly using a mix of financial consolidation/planning tools and Excel. China and Brazil managed cash locally with limited inter-company transactions, while Netherlands, Singapore, USA, and Italy operated through a Dutch cash pool. “I know where our cash sits today,” Mark told me. “But I have no idea where it’ll be next week. And with our project-based business model, that’s a serious problem.” The real cost of flying blind What Mark didn’t realize was how much this visibility gap was costing his company. With €240 million in cash and 10% sitting idle, they were missing significant optimization opportunities. Without accurate cash forecasting, his team couldn’t support the business effectively when large equipment orders required substantial working capital adjustments. The bigger problem? His company’s maturity score was just 1.5 out of 4: well below the industry benchmark of 2.84. They were operating at an “ad-hoc” level with disparate, unstructured processes and highly manual procedures. Mark’s team spent 85% of their time on manual tasks. Their cash forecasting accuracy sat at 65%. They had limited visibility into their global operations, and frankly, the CFO was losing confidence in treasury’s ability to support strategic decisions. Why traditional solutions fall short Mark had tried piecing together solutions. Bank statements were downloaded in MT940 and CSV formats, then uploaded to financial consolidation/planning tools. Manual GL entries were posted in their ERP. Payment workflows existed only in their Chinese entity. Everywhere else relied on manual processes without proper validation or policy enforcement. The risks were mounting. Their risk assessment showed critical threats in cash positioning, payment initiation, disaster recovery, and compliance controls. They faced potential fraud exposure of €34,000 annually, with operational risks adding another €21,000. Most concerning was their payment infrastructure. Lack of standardization and encryption created fraud vulnerabilities. Their disaster recovery plan was essentially non-existent, with elevated risks around payment files being manually downloaded and uploaded to bank portals. The transformation that changed everything The breakthrough came when we implemented Kyriba’s Liquidity Performance Platform. The results were immediate and dramatic. Within weeks, Mark’s team went from spending 85% of their time on manual tasks to just 18%. Their cash forecasting accuracy jumped from 65% to 90%. Most importantly, they achieved 100% real-time cash visibility across all their global operations. But the numbers tell only part of the story. The real transformation was strategic. Mark’s company was already 100% connected to Kyriba’s banking network – all nine of their banks across four countries. This eliminated the need for custom connectivity development, saving them €86,000 in avoided costs plus €13,000 annually in maintenance. The platform’s AI-powered forecasting gave them confidence to optimize their cash position. They reduced idle cash by 43%, releasing €148,000 annually through better business project allocation. Debt optimization delivered another €49,400, while improved investment strategies added €25,600. From cost center to strategic partner Six months later, Mark’s role had completely changed. Instead of chasing bank balances and manually reconciling accounts, he was advising the CFO on capital allocation strategies for major equipment projects. When a competitor became available for acquisition, he could model the liquidity impact within hours, not weeks. The company optimized their cash pooling structures and renegotiated banking relationships based on accurate cash flow projections, a projected saving of €24,300 annually in fees. Most importantly, Mark became the CFO’s trusted advisor on all liquidity-related decisions. When the board asked about cash runway during potential supply chain disruptions, he could run scenario analyses showing exactly how different market conditions would impact their liquidity position. The total projected annual benefits are reaching €497,000: split between €107,000 in productivity gains, €339,000 in financial savings, and €51,000 in risk reduction. The payback period is just 14.2 months with a 215% ROI, so we are counting the months. The competitive advantage hiding in plain sight What struck me about Mark’s transformation was how quickly it happened. Kyriba’s platform didn’t just solve his reporting problems. It gave him the tools to become strategic about liquidity management in a project-heavy, capital-intensive business. The AI-powered cash forecasting eliminated the guesswork around large equipment deliveries and customer payment cycles. Real-time bank connectivity provided instant visibility across their global manufacturing and service network. Scenario modeling let him test different business strategies before committing capital to major projects. But the biggest advantage was psychological. When you can see your cash position clearly across multiple countries and currencies, you make better decisions. When you can forecast accurately despite volatile project timelines, you take calculated risks….