More payment rails give treasurers more choices over how cross-border transactions move.

Fragmented payment, liquidity, FX and working capital data can limit the value of treasury systems.

Connectivity lets corporate systems apply payment rules before transactions reach banks and providers.

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Companies have upgraded their treasury systems while the payment networks, banks and data they rely on remain fragmented.

The sheer number of ways to move money has increased. Wires and domestic clearing systems remain. Real-time networks have joined them, along with pay-to-card services and other methods. Each payment choice presents a different combination of speed, cost, availability, currency exposure and certainty.

Corporate treasurers have more choices, without having a simple way to choose.

Daniel Stanton, managing director and global head of Transactional FX, Cross Border Real-Time Payments & Clearing at Bank of America, told PYMNTS that companies need to begin with the transaction rather than the rail.

“Treasurers now have to manage across a maze of rails,” Stanton told PYMNTS. Companies, he said, need to identify what use cases they’re solving for and what business outcomes they expect.

A company sending an urgent payment to a supplier may favor speed and availability. Another transaction may put greater weight on cost or foreign-exchange risk. The treasury team is able to apply those priorities only when it is connected to the banking and payment services needed to execute the decision.

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