Open Banking and How It Benefits Treasury and Corporate Finance
Presentation Date & Time:
September 17th at 10:00 AM
Presenter Information:
Name: Patricia Tripar
Organization: Santander Bank, N.A.
Title: Head of Product Development and Electronic Banking, Corporate and Commercial
Presentation Description:
Open banking is set to improve and change corporate lives and business models. What does open banking mean for corporate treasury and finance teams in practical terms?
Since the Second Payment Services Directive, or PSD2, the European Legislation, went into effect in January 2018 – corporates, banks, and Fintechs, have put plans in place to capitalize on open banking, the API technologies which power open banking, that are needed to enable open banking. The US Treasury continues to support promotion of rules of engagement that will protect consumer and corporate participation in this space.
The session will highlight the benefits that Open Banking presents to corporate banking and payments industries and how the treasury and finance function can bring value to their organizations with efficiency improvements, process optimization, and innovating and reinventing practices.
Today’s finance is becoming more and more efficient with the use of technology. What are some common and practical objectives for modern cash management?
- Small companies can tap into traditionally large corporate solutions – access to bank data previously available to larger, well-resources corporates, becomes accessible based on the benefits of emerging technology
- Customer experience and relationships change to “business in real-time”, with the effect that availability of real-time transaction data such as real-time payments can have on delivery of goods/ services to customers
- Self-service exchange of financial statement data and information can give banking partners permission to access corporate’s systems, i.e. to update your company information, Accounts Payable, Accounts Receivable financial statement information in real-time, to affect processes such as KYC updates, credit decisions, supplier payment terms
Patricia Tripar Biography
Patricia Tripar is the Head of Product Development & Electronic Banking, Corporate & Commercial, for Santander Bank, N.A. She is responsible for treasury management online, portal, and mobile banking platforms. Patricia joined Santander in 2016. Prior to Santander, Patricia has held roles in banking and consulting with West Monroe Partners, Royal Bank of Scotland (RBS), BMO Harris Bank, and ABN AMRO/LaSalle Bank, in Chicago, IL. She began her career at Ernst & Young Consulting in Cleveland, OH.
She received a Bachelor of Science in Business Administration degree in marketing and a MBA both from John Carroll University, Cleveland, OH. She lives in Boston, MA.
She received a Bachelor of Science in Business Administration degree in marketing and a MBA both from John Carroll University, Cleveland, OH. She lives in Boston, MA.
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