AI helps treasurers keep pace with changing demands of role
Regulatory change, cost pressures, advances in technology and more-demanding customers: treasurers have a lot on their minds, but artificial intelligence (AI) is here to help.
The role of corporate treasury has evolved considerably in recent years, observes Pankaj Gupta, managing director at Synechron.
Once, treasurers were chiefly concerned with asset liability management and liquidity, but today they are concerned about the impact of regulations, such as Basel III, and their implications for capital adequacy and risk management.
Banks and technology companies have been working on a number of systems to help treasurers and CFOs stay on top of these changes. Few technologies have done as much, or have as much potential to deliver future efficiencies, as AI.
AI can help banks evolve their understanding of their clients, from what they want to why they want it, says Alenka Grealish, senior analyst for corporate banking at Celent.
“This has profound implications for the nature of customer engagement, moving it from being tactical to being strategic,” she says.
By understanding why a client chooses certain services, banks can make better recommendations, acting more as an adviser and less about pure execution, she explains.