The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Treasury

Treasury teams face signatory challenge

Multinational corporations, which manage hundreds of accounts under multiple legal entities, face challenges in their efforts to automate signatory management.

signature-pen-hand-free-960x535.jpg

Multinational corporates who deal with multiple banks face problems when they need to create a new signatory or amend an existing set-up, or when they need to gain an overview of who can sign for what – especially for audit purposes.

Creating or amending signatories is problematic because the requirements of each bank are not always clearly stated and requirements can differ.

This means that the corporate employee tasked with making the change often has to contact each bank, find out what the requirements are, and then complete the required forms and source the requested documents.

As a result, the likelihood of getting the process right first time is fairly low, says Rob Lunn, head of banking relationships at Delega, which has developed a signatory management tool that stores and manages a central list of current signatories.

Different banks … frequently store data on signatory rights in different systems and databases
Rob Lunn, Delega
Rob-Lunn-Delega-960.jpg

This can then be shared with chosen banks, ensuring an up-to-date record of signatory information.

“Different banks – and even different international branches of the same bank – frequently store data on signatory rights in different systems and databases,” he says.

“Since


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree