Real Experience with API in Treasury
APIs are a game changer for treasurers. DBS and CompleXCountries collaborated to highlight key opportunities APIs provide and answer potential concerns raised by a senior group of treasurers.
Have no doubts, APIs (application programme interfaces) are a game changer for treasurers. But they are relatively new. As treasurers embark on a steep learning curve, “Real Experiences with APIs in Treasury”, a collaboration between DBS and CompleXCountries explores the opportunities that APIs represent as well as addressing the questions and concerns of a senior group of treasurers who took part in peer group discussions on the topic.
APIs enable disparate systems to interact and exchange data with each other in real time, and this allows APIs to have a dramatic impact on how companies interact with their clients, with their suppliers and internally. Most treasury activity is about gathering information from different sources and processing it. APIs not only mean that treasurers can do this in real time, but also at development costs and implementation times that are fractions of those associated with ‘traditional’ transformation projects. At the same time, the number of potential connections and data are much greater.
DBS and CompleXCountries brought together thirteen senior corporate treasury professionals, representing multinational companies from the United States, Europe and Asia into two peer group sessions hosted by John Laurens, Group Head of Global Transaction Services at DBS Bank, Mark Troutman, Group Head of Sales, Global Transaction Services at DBS Bank and chaired by Damian Glendinning (former Treasurer Lenovo and chair of the CompleXCountries advisory board).
In the peer group sessions, the peers described their current approaches to using APIs, together with their questions and concerns, including issues such as costs, security, standards, and controls.
The Real Experiences with APIs in Treasury Videos
After the peer group sessions, Damian, John and Mark talked about the issues raised by the peer group sessions and combined it with DBS’s experiences in implementing APIs for clients.
View the videos here today:
Episode 1: Business is changing, treasury needs to adapt.
Episode 2: Low cost incremental change is now possible
Episode 3: Practical considerations of APIs
Episode 4: Change the way you think about change