BP is using The Wall Street System treasury engine as the common platform for managing its group treasury, cash management, foreign exchange and funding operations worldwide. The vision to create a ‘virtual treasury’ operation began in early 2000. This followed BP’s merger with Amoco in 1998, and acquisitions of ARCO in 1999 and Burmah Castrol in 2000. A key objective was to consolidate the many disparate and highly manual legacy treasury processes and systems being used across the organization. The new group’s finance team – BP Finance – now consists of 200 employees based in London and Chicago as well as Hong Kong and Singapore. All locations now use BP’s virtual treasury – based on The Wall Street System – which went live at the end of 2001.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more