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The U.S. Treasury Department building in Washington, D.C. A senior U.S. Treasury official warned about potential risks to international financial stability and economic security from any cross-border payments systems that fail to adhere to standards aimed at minimizing illicit activity. Your access to unlimited Treasury & Risk content isn’t changing. Once you are an ALM digital member, you’ll receive: Already have an account? Sign In Now *May exclude premium content
Over the past decade, the payments sector has undergone a notable surge in complexity and fragmentation. Rising payment volumes, tougher customer demands, and evolving market standards have exacerbated the pressure on corporate treasury organizations, particularly those that rely on antiquated legacy systems and tools that function in isolation.
The pace of technological change has never been this fast, and its impact on the shifting treasury landscape is not going unnoticed. While on one hand there have been numerous innovations making corporate payments seamless, streamlined and secure; configurable software, on the other, has been quietly revolutionising the entire landscape of treasury management.
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