Global Public Sector

Multinational development banks have a broad membership base, spanning developed and developing countries, borrowers and lenders. As custodians of government reputations and proponents of development, it is of key importance to maintain risk-oriented, transparent and efficient liquidity and cash management practices.

Typically these institutions need to fund projects in various countries, often in multiple currencies, which in turn leads to a requirement for centralised accounts and consolidated banking relationships. Long-term planning is essential in order to ensure that cash is utilised efficiently, and this can only be achieved if the Bank has sufficient insight into local as well as aggregated balances. Administrative costs must typically be kept at a minimum and meet their internal compliance policies.

Common services required:

• Corporate card solutions allow convenient and efficient access to expense management
• Digital platforms give high level of visibility and enhance audit trails to meet regulatory requirement
• Liquidity management enable cash to be mobilised globally by treasurers

Governments are tasked with serving the interest of the country and the public while preserving national security. From a financial perspective, the government must ensure financial accountability and transparency, while sustaining a balanced budget.

Efficiency, visibility and risk control are therefore crucial in enabling the optimal management of the central budget, as well as the budgets of various government departments and agencies.

Benefits, payroll and pension payments as well as tax and duties collections form a central part of government's responsibilities, where transactions in large volumes often need to be made in a timely and secure manner.

Common Services Required:

• Global Payables and Receivables solutions enable timely and secure execution of payments to and from public
• Digital platforms give high level of visibility and ensure central government abide by the highest standards of accountability

In a world that is becoming more global, there is continuous pressure on local governments to transition and innovate.

This is part of driving the growing need for moving away from manual and resource-intensive solutions towards increased automation in operational processes. Not only does this enable adaptability to changing circumstances in the future but it also frees up time and resources to focus on facilitating growth and innovation.

Common Services Required:

• Electronic tax collection and automated payroll payments limit the need for manual input
• Digital platforms increase visibility and control through improved performance reporting

Today, state-owned entities face higher demands for accountability given the changing macro-economic environment and their often substantial influence in the economy. They are challenged increasingly to strengthen the level of payment transparency, encouraged to increase cash visibility, reconciliations and integration between systems.

Common Services Required:

• Digital platforms increase control and visibility while also enabling costs savings by moving from paper-based to electronic transactions
• Accounts in multiple currencies in certain hubs such as the UK and Hong Kong
• Automated receivables and reconciliation reduce administrative costs and improve working capital