AFP Blogs

The challenge for today’s North American corporate treasury doing business along the Pacific Rim is working with a multitude of local banks and losing some transparency, according to one banking executive. Jess Villarina, senior regional sales representative – Asia Pacific, HSBC, says, “Right now, companies are worried about the sovereignty of some local banks in light of the current market conditions. They are reviewing these local banks, and looking for operational efficiencies, tighter management of working capital, leveraging of technology, and increased transparency of cash that they’re not getting now.”

Transparency is top of mind with many firms who have completed their Asia-Pacific acquisitions and are moving in to the next phase of doing business along the Pacific Rim. “They’re worried about the control of these accounts that are located at multiple banks—the challenges of getting a handle on a transactional level, that real-time of information,” says Villarina. “Right now, they’re getting a plethora of information from various banks, which may not be the most optimal situation.”

Villarina will discuss working with your banking providers on how to improve operations in the Pacific Rim and building better transparency as well as risk management and cash management in an AFP webinar, “Cash, Liquidity and Risk Management in Asia,” November 4, at 3:30 pm.

This webinar is approved for CTP/CCM and CPE credits. For more information on requirements for obtaining CE credits through AFP webinars, please view the re-certification requirements.