Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 30

PAYMENTS
AS A
STRATEGY
Adapt your payment solution
to your strategic goals

GREGOR OPGEN-RHEIN
KEY ACCOUNT MANAGER

Many corporates are working with various bank sponsored electronic
banking solutions which lead to high administration costs,
in-transparent cash positions and restrictions to fulfill internal compliance.

OMIKRON SYSTEMHAUS

LE MAGAZINE DU TRESORIER / TREASURER MAGAZINE	-	
MAGAZINE
-
N°99 - NOV /

DEC / JAN 2018

An alternative solution could be to connect your banks via a single,
bank-independent payment factory solution, supporting straight through
processing. Since a variety of digital bank services are available to integrate
all banks by a single payment hub, it makes sense to understand what could
work best for you.
Payment channels, the alternatives:
Access to the EBICS/MCFT channel
The EBICS communication channel,
already supported by many
international transaction banks is
an internet communication standard
especially designed for Electronic
Banking purposes. The number of
banks that offer this channel is growing
fast.
The MCFT (MultiCash File
Transfer) channel is a product specific
channel, developed by Omikron and is
provided by many banks and service
providers as well (e.g. UK BACS Service
Bureau). MCFT will bring additional
benefits to MultiCash users, as it is
similar to EBICS especially designed
to use the internet channel.
Setting up a connection with banks that
support EBICS/MCFT is a plug and play
implementation.

H2H connections
This is an individual connection with
a bank. H2H connections are bank
specific and built to use secured
file transfer protocols. Each H2H
connection can be a bank specific
project.
Access to the SWIFT network
(to be purchased from SWIFT)
To access the SWIFT network,
there are two alternatives:

30

1. Via a SWIFT AL2 connection,
direct linked to the SWIFT network.
2. Via a SWIFT Service Bureau,
indirect link, via a third party.
Once the access to the SWIFT network
is in place, you need to implement and
test connections per individual bank.
As SWIFT is using a private network
for the data exchange, this will lead to
additional costs because companies
are also charged by the amount of
traffic over the channel.
Independent of the (combination of)
channel(s) you use, you still need
payment software that allows you to
read the incoming bank statements
and create and send payment files in a
secure way.

Payment File Formats
Another important aspect of payments
is the 'payment file format' question
(MT101/XML/local standards/ bankspecific standards). Which formats
are currently used by the corporate
systems and will their bank accept
them in the new standardized set up,
or does the client wish to harmonize
formats and workflows? This discussion
is important when replacing a variety of
EB systems of a corporate with multiple
international subsidiaries and bank
connections.

Strategic considerations
The choice of payment channels
depends on various factors.
For instance, a client with 20 banks,
of which 16 can be connected via
EBICS/MCFT would probably connect
the remaining 4 via separate
H2H-connections because this is
a more efficient set-up.
Alternatively, a client with 20 banks
of which only 5 can be connected via
EBICS/MCFT would connect the rest
tvia SWIFT.
In the end, it is the corporate who
decides which channel is preferred
and how channels can be combined
efficiently. The payment factory must
be as flexible as possible to support
the corporate strategic goals, even with
a change of banks and strategy.

Conclusion
Moving away from traditional
electronic banking systems to a
modern independent payment factory
solution is a challenge. It starts with an
analysis and leads to a strategy. Several
operational and IT-specific questions
need to be answered: which new digital
services, channels and formats are
offered by the bank, and what is the best
operational approach for my company?
Since most people in treasury prefer to
outsource these analyzes to external
experts, it makes sense to seek
professional advice.



Table des matières de la publication Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018

COUVERTURE
SOMMAIRE
EDITORIAL
FINANCIAL HIGHLIGHTS Luxembourg Tax News
INTERVIEW with Dick Oskam, Head of Sales for Transaction at ING
FOCUS
Value generation - How to create (more) value for the company with a better capital allocation
Managing bank accounts, the Cinderella of treasury management
Treasury on the Digital Front Line
FORUM
Implementation of EU Tax Rules
Innovative payments solution
Construction de portefeuille : combiner gestion active et passive
Decision Time: Investing in Money Funds after EU Reforms
Payments as a Strategy
Are asia’s corporates ready to repo?
The evolving role of treasurers
THE FINANCIAL RISK OBSERVATORY
NEWS
LIFE BEYOND NUMBERS
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - COUVERTURE
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 2
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - SOMMAIRE
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 4
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - EDITORIAL
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - FINANCIAL HIGHLIGHTS Luxembourg Tax News
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 7
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - INTERVIEW with Dick Oskam, Head of Sales for Transaction at ING
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 9
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Value generation - How to create (more) value for the company with a better capital allocation
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 11
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 12
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 13
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Managing bank accounts, the Cinderella of treasury management
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 15
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 16
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 17
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 18
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Treasury on the Digital Front Line
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 20
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 21
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Implementation of EU Tax Rules
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 23
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Innovative payments solution
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 25
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Construction de portefeuille : combiner gestion active et passive
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 27
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Decision Time: Investing in Money Funds after EU Reforms
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 29
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Payments as a Strategy
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 31
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Are asia’s corporates ready to repo?
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 33
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - The evolving role of treasurers
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 35
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 36
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - THE FINANCIAL RISK OBSERVATORY
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 38
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 39
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 40
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - NEWS
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 42
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 43
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 44
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 45
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 46
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 47
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 48
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 49
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 50
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 51
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 52
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - LIFE BEYOND NUMBERS
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 54
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 55
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 56
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