So, we all got back from Barcelona OK last week after an excellent few days at the Eurofinance Conference. The conference coincided with our press release launching our new mobile phone cash management application

Timing is everything, and so it proved to be this time, as social and political events in Catalonia prevailed, bringing increased uncertainty throughout the week. Somewhat ”tongue in cheek”, but equally seriously, we were able to demonstrate our new functionality against the backdrop of a dialogue along the lines of “Imagine you were at a conference in Barcelona and there is social and economic unrest that is triggering currency fluctuations - how quickly can you react? It’s your data can you see your liquidity position to be able to make an informed investment decision? Can you release your payments? What does the Group position look like -are you overdrawn or too long by Subsidiary or Bank?”  All very relevant and increasingly important as we move into an era of real-time faster payments which heightens the need to be able to see your intra-day position, especially if Banks ultimately should capitalize against uncommitted intra-day limits which could change the cost dynamic of cash management.

It’s your data make it work for you,

I said this in my last blog in the context of being completely file agnostic and therefore not having to individually connect to and support myriad separate reporting systems formats, payments file formats and file dependencies.

However, a week is a long time as we know, and since my last blog there has been further media coverage of payments hacking and fraud attempts. It’s your data and you want to make it work for you, sure enough BUT where is it and how secure is it? B2 Group has dual data centers in Luxembourg and penetration tests by major auditors. When we host your data, be it payments or bank information, it has the highest levels of protection. It reminds me of a Rugby quote in reference to the ball “use it, or lose it”.

In summary, an exciting week and huge interest in our new application. The regulatory framework around PSD2 offers a huge opportunity for API integration, better use of data and the emergence of new payment providers and information aggregators. It also offers huge challenges - use ,own and protect your data. Ensure that your chosen partner or provider does the same - make it work for you.

          That’s all for now - if you would like to discuss further, then please contact me on: 

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