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Home›Cash Pooling›Technology is seen as a catalyst for innovations in cash management: Seetharaman

Technology is seen as a catalyst for innovations in cash management: Seetharaman

By Trishia Swift
October 6, 2021
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Technology can be a catalyst for innovations in cash management and broader banking transactions, said Doha Bank CEO Dr R Seetharaman during a recent webinar titled “Innovation in Payments and cash management”.
“Transaction banking primarily includes cash management and trade finance. The main focus is now on trading, liquidity management and security management. Cash flow forecasting is done dynamically taking into account various events and situations.
“National and international solutions are available in a secure, reliable and efficient manner. They increase the visibility of your accounts, manage your transactions remotely and efficiently concentrate your cash flow. Automated cash pooling solutions allow you to effectively monitor your group’s overall position to improve your liquidity management and facilitate investment decisions, ”Seetharaman said during the webinar.
Ala Azmi Abumughli, Director of Wholesale Banking Services at Doha Bank, said, “As we remain committed to providing innovative and convenient banking products and solutions to our esteemed business clients, Doha Bank always strives to create solutions. innovative branch services, relationships management, self-service and digital channels provide cutting-edge services to individuals, SMEs and corporate clients.
He said the bank’s product line includes corporate card products, payroll solutions and bulk ATMs, among other things to meet the needs of Doha Bank customers and to ensure successful transactions, fast and reliable while reducing waiting hours during transaction routines.
“We can proudly say that with the support of our clients, we have been able to migrate most of the payroll processing volumes to digital channels. In addition, around 66% of money transfer transactions are now processed digitally, avoiding paper processing and physical contact, ”he said.
Seetharaman said: “Payments must be transparent and secure. There should be more and more integrations and data is the most valuable resource. Spending on digital wallets is expected to increase. Open banking is a gateway to new types of payments.
Visa has partnered with fintechs focused on open banking. Fintechs, such as Paypal, Stripe and Headnote, play an important role in the payments industry. The digital transformation, which has occurred due to the Covid-19 pandemic, has made today’s payment systems even more relevant as a growing volume of consumers have started to buy online. ”
Amjad Zawyani, Country Manager, Progress Soft Qatar, said: “A dynamic change is on the horizon for the payments landscape in Qatar, and financial institutions must be ready: from corporate banking customers to ordinary consumers. . Now is the time for digital, intuitive and interoperable payment solutions that integrate perfectly into our daily routines.
“This is what we have been providing to Qatar from day one, and what we will continue to champion until the national vision of a cashless society is realized by 2030, and beyond.”
Clyde Rosanowski, Senior Director, Head of Business Solutions for Large and Mid-Market, Visa CEMEA, said: “Several key trends are impacting the business-to-business payments landscape in our region. What our customers tell us is that they want solutions that help manage risk in the payment process, increase efficiency and promote payment visibility. These trends are the pillars on which we build our solutions.
Saman Abudayyeh, Country Director of NCR Corporation, said, “In a world where innovations in digital payment through wallets and the integration of fintech are increasingly common, physical media is still a must.
“Today we need to pause and ask ourselves how to optimize our operations to achieve a predictable cost model while improving the customer experience with the richest portfolio of services.”
Ends

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