How are you after 14 September 2019?
On this day more clauses of the EU Payment Services Directive 2 (the so-called PSD2) came into force. What was its impact on your company?
Have your house banks informed you in due time about their solution to implement the two-factor authentication?
The directive is an important step to increase security and to protect individuals and companies against cybercrime. We all profit from it. At the same time, conditions for more participants in the market were created, thereby increasing the competition of payment providers.
Possibilities of Electronic Banking
Did you use the chance, to get full information about the possibilities of the Electronic Banking of your house bank?
Very often clients make wide use of online banking tools, although its accounting creates with the help of ERP systems electronic payment files for electronic banking.
The reasons given are necessary urgent payments or that bank statements are posted too late and do not give the latest information. In addition, urgent payments need to be checked at the same day, while bank statements give information on the previous day only.
Current Set-up of your cash management
As a result, Cash managers are equipped by bank with diverse tokens, smart cards or other. The entries for online payments and payment information differs by banking tool differ to a great extent.
For small companies with a limited number of house banks this can be handled well. However, when dealing with more banks, the use of the different systems by banks can become a pain.
Make use of Intraday Statements
Intraday Statements provided by your bank, may be of help. They are electronic bank statements with information of the current day bank movements, easily imported by your cash manager for all you bank accounts with different banks. Monitoring cash flows made easy.
Stop logging into diverse online banking tools and tedious compiling of data!
Order intraday statements in the same electronic format what is used by accounting to post your bank statements. In other words, when using bank statements in format MT940, please order MT942. If you already make use CAMT.053 for your bank statements, order CAMT.052.
I am there for you, when you plan to make better use of the offers of your bank, equally in questions of optimizing your processes of your cash management.