Treasury Transformation: Could robots soon rule the world?...Treasury Transformation • On-going...
Transcript of Treasury Transformation: Could robots soon rule the world?...Treasury Transformation • On-going...
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Treasury Transformation:Could robots soon rule the
world?
• François Masquelier, Chairman of ATEL
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The question is not WHETHER our economies and functions will be affected
by digitization but WHEN and HOW
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The KEY question on Digitization
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Digitization, what A. Toffler would have called « The 4th wave »
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“Let's get DIGITAL, digital … I want to get digital… Let's get into
digital… Let me hear your body talk, your body talk…”
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Treasury Transformation... Evolution or Revolution?
At the end of the day all jobs are at risk with digitalization of the economy
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Treasury Transformation
• On-going TRANSFORMATION of treasury
• Treasury function has entered a new era of its developments… Treasury V.4.0
• We can talk about DISRUPTIVE innovations…
• Many changes (e.g. e-payments, new financial reg’s, IT technology evolution, robotization of processes, algorithms, new IFRS standards, market volatility, cyber crimes and fraud, etc…)
We thought cars would fly in 2000…
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Drivers of this evolution
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« Robots will steal your jobs! » (Federico
Pistono)
« Science is what the father teaches his son. Technology is what the son teaches his dad »
(Michel Serres)
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Treasurer of the Future ?
Threat or Opportunity for Treasurers?
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A Super Treasurer but applying all new technologies…
Be ready and prepared for changes…
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Big Data Analytics
« Information is the oil of the 21st century and analytics is the combustion engine »(Peter Soundergaard)
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• We need to find it, extract it, refine it distribute it and monetize it » (David Buckingham)
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Financial data is the new OIL
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The future is now…
• Technology innovation has always been intrinsic
to the changing role of treasury
• Instrumental in creating opportunities for
enhanced efficiency, control and capacity building
• Disruption or continuation? Revolution or evolution?
• New entrants, incumbents, new players, fin tech’s to deal with
• Automation means Standardization (e.g. KYC) preliminary steps
• Agility is a required quality
• e.g. virtual accounts and cash management, biometric authentication, P2P solutions, e-payments, etc…
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Disruptor or Disrupted? There is no middle ground…
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“The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow” (R. Murdoch)
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Thank you!
François Masquelier, Chairman ATEL
Twitter: @FrancoisMasquel
Blog: https://mytreasurer.wordpress.com
LinkedIn: ATEL group