New Year and Beyond: Resolutions and Transformations for Treasury Services
The beginning of a new year is the ideal time to contemplate a transformation or advancing a transformation underway. Given tech advancements, what could be achieved in 2024 and beyond? What leaps is generative AI making possible? A lot is the short answer. I have outlined four dimensions in treasury services ripe for transformation: engagement model, “channels,” interfaces, and intelligence. The overarching theme is for banks to reframe from the “what” (e.g., products, proprietary channels) to the why (e.g., customer workflows) and the how (e.g., co-pilots).
To learn more about the intelligence dimension and opportunities in data analytics and AI/Gen AI, please see my report, Breakthrough AI-nnovation in Cash Management: Prediction to Prescription, in which I outline the current state and a vision of the future state in 2030. I also profile seven beacons of the future state, including banks (Citi, J.P. Morgan, and PNC) and their tech partners (HighRadius, Tesorio, TIS, and iGTB).
If you’d like to discuss any of the above, I’d welcome a conversation.