Treasury Payments Reinvented

Ceviant Finance

8 June 2022 | 12:47PM GMT

Streamlining payments into a simple and effective process can often be elusive to corporates. An ineffective payment system leads to inaccurate reporting, loss of valuable time and, ultimately, a distressed treasury department. These potential issues have been further amplified by the current business climate, where erratic supply chains and remote working environments have become the norm rather than an exception.

Domestic and cross border payments are equally important to businesses, but one is often considered more complicated than the other. Coupled with the need to track incoming payments in different currencies from multiple customers can pose real challenges, especially around reconciliation.

Another area of consideration is the distribution and management of hardware tokens to protect payment authorisation and access to sensitives IT. systems. Best practice dictates 2 Factor Authentication Technology (2FA) is used to initiate and authorise transactions. This can prove tricky when teams are spread across different parts of the world.

Ceviant has designed its treasury solution to tackle the problems associated with account reconciliation, payments tracking (inbound and outbound) and managing an enterprise-wide liquidity position. We have created our platform to ensure that making cross-border transactions is just as simple as domestic ones. In addition to that, we manage the entire life cycle of the payment, so that clients no longer need to bother with maintaining supplier or counterparty information or stress about payment timelines, which can vary.

Our ability to integrate with ERP and treasury systems permits us to process payments in a smarter and faster manner. Corporates can close out transactions sooner, with the clearing and settlement cycle working in tandem, all thanks to the revolutionary technology that combines payments with messaging.

To help secure the process, Ceviant uses a combination of soft tokens and secure QR scanning, thereby eliminating the need for additional hardware. Aside from cutting costs, this allows for faster rollout and simplifies end user management.

We also recognise that each business is unique and process rules will differ. Our platform’s flexibility has been designed to put you in control. With our governance rules engine, you can create your own process methodology that covers access rights, roles and responsibilities from reporting all the way through to transaction initiation, authorisation, and execution.

Finally, business leaders need accurate and up to date information in an “easy to digest and distribute” format. Ceviant provides analytics and graphical displays that reflect your cash position on a real time basis. This helps you make decisions faster, with a greater degree of accuracy.

Please contact us as we would love to hear from you and for us to show you how we’re seeking to change the world of treasury payments, one transaction at a time.

Ceviant Finance

ISO 20022 and the future of payments

ISO 20022 is a globally adopted standard for financial messaging that is changing the way payments are made and processed. Developed by the International Organization for Standardization (ISO), the standard aims to increase efficiency and reduce costs within the financial industry by enabling the exchange of structured data between financial institutions and corporates.

Efficient Cash Management for Law Firms with Ceviant

Examining the common cash management pain points that law firms face and how Ceviant's solutions can help mitigate them.

Accessing a New Frontier: Ceviant is Now a Licensed Payment Solution Service Provider

The PSSP license enables Ceviant to offer a comprehensive range of payment services to clients in Nigeria, including electronic fund transfers and payment processing.

Ceviant and RapidLEI Partner to Increase Transparency in International Business and Trade

The partnership will enable Ceviant to build automated LEI issuance into its treasury platform, allowing companies, funds, and other financial entities to be accurately and efficiently tracked. The partnership reflects Ceviant's commitment to increasing transparency in international business and trade, while eliminating data duplication and enhancing compliance and risk management.

Making International Payments Easier, Faster and More Secure with SWIFT GPI

How Ceviant uses SWIFT gpi to make international payments swift, secure, and easy.

The Future of Banking is Open

Open Banking allows third-party access to multiple bank accounts via APIs, giving banks new ways to add value and enabling competition from small players. Across the EMEA, open banking initiatives create standards which banks must meet, making it the future of banking.

Dealing with the growing threat of cyber-security for treasurers

Treasurers are responsible for the financial health of their organizations, and they must now take greater care when initiating payments and managing data flow. They need to be aware that every payment, whether it is a cash transaction or an electronic transaction, carries with it the risk of fraud. The pandemic has forced businesses to rethink their operations, which is why it’s so important for treasurers to keep up-to-date with the latest trends in technology, security and compliance.

Advancing the Treasury function with technology

Treasury departments are under pressure and must adapt to rapid technological advancement. Managing multiple liquidity pools, streamlining numerous payment types and maximising value are some of the treasury division's pressure points. With the rise of APIs and the inevitable shift to a digital-first approach, treasurers need to embrace change. This attitude has been further accelerated by the Covid pandemic and remote working, forcing institutions to reprogramme their business processes and workstreams.

Easing Bank Connectivity with Fintech Innovations

Looking at the evolution of banking systems in Nigeria, it is clear there are specific services that banks in Nigeria are already offering, such as providing access to accounts and e-wallets. However, beyond creating accounts for customers, banks are often unable to effectively provide innovative value-adding solutions to customers because of a lack of technological expertise. This is exactly where fintechs fit in.

How treasury fintech is changing the way companies in Africa navigate cash management

There are several challenges for companies in Africa with regard to managing cash but fintech is developing solutions fast to help businesses address these challenges.

Banks and Fintechs: Collaboration Not Competition

Some Nigerian banks may resist fintechs because they regard them as competitors who are taking away their customers, but fintechs have a duty to explain to them that this is not the case. Banks have the banking infrastructure which is effectively complemented by fintechs’ IT solutions. Fintechs essentially help deepen the relationships that banks have with their customers by providing complementary services. Fintechs are not banks because they do not hold funds. Customers’ accounts are held in and managed by the banks and the flows through the accounts remain there.

The LEI Future - eliminating data duplication for clients and businesses

The LEI future eliminates unnecessary data duplications for clients and financial institutions. Legislators have increasingly called for greater transparency in domestic and especially international financial transactions in recent decades. This is due to the need to curb crime, notably terrorist financing and money laundering. The regulatory environment has progressively extended the list of information that must be collected and stored about customers to achieve this.

Why APIs are essential to enterprise payment optimisation

Application programming interfaces (APIs) help consolidate enterprise payments and reduce the need for third-party intermediaries.

Treasury Payments Reinvented

Streamlining payments into a simple and effective process can often be elusive to corporates. An ineffective payment system leads to inaccurate reporting, loss of valuable time and, ultimately, a distressed treasury department. These potential issues have been further amplified by the current business climate, where erratic supply chains and remote working environments have become the norm rather than an exception.