“Open finance” is freeing treasuries
Letting go of legacy systems, and instead building a new solution over a standard Microsoft platform, has created a new level of data transparency at Saxo Bank, where Thomas Otendal is group treasurer. On Thursday, he shared his experiences in the Treasury 360° Copenhagen conference.
In retail banking there is currently a lot of talk about “open banking”, but it might well be in the financial wholesale area that the biggest changes will show, Thomas Otendal predicts. The transparency and flexibility that is now emerging through this “open finance” could make treasuries even more significant for the value creation in their companies, he thinks. And the entry of blockchain-powered solutions could add yet another dimension.
“This world is evolving as we speak and for treasurers it is super interesting.”
Beside his Saxo Bank role as such, Thomas Otendal recently took up blogging about his quest for tomorrow’s treasury solutions – looking into how we should embrace the current megatrends of digital, real-time and automation.
News from Treasury 360° Copenhagen is gathered here – during and after the event. Some will have full-session videos added.
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