• Internet authentication

    The growing number of cases of online identity theft emphasises the elementary requirement for businesses to be able to perform online interaction and transactions in a secure environment, leaving no doubt over the identity of all participants. The process of verifying the identity of another party over the internet is called authentication.

  • Online identity theft

    Online identity theft is a fast growing international crime. Online thieves target users by stealing sensitive data via the Internet or using techniques which tempt the victims to unwittingly disclose information. This can range from bank account and credit card details to usernames and passwords. In the case of businesses, it can include employee, supplier and client information. Details can be used to access existing bank or credit card accounts, open new accounts or establish telephone and other services in the victim’s name. Companies need to be aware of the methods used by fraudsters to gain access to a victim’s personal information and be aware of the fraudulent transactions that may result. The fraud techniques vary and are becoming more sophisticated. This month we examine the methods and associated jargon of online identity theft – and look at how you can protect yourself.

  • Managing treasury security

    Over the last few years, the efficient treasury has become ever more dependent on technology. Banks, system suppliers, software companies and corporate IT departments have all been developing technology in such a way that processes can be standardised and automated. It is the introduction of standardised processes that means a central treasurer can exercise remote control over subsidiary operations around the world. It also means the treasury department, both at corporate and subsidiary levels, can be run with a more streamlined approach.

  • SunGard releases AvantGard-GTM 8.0

    SunGard has launched the latest version of its AvantGard treasury management software. As part of this development, the browser user interface has been enhanced. It also offers improvements in derivatives accounting, interest rate processing, foreign exchange and cash management.

  • Foreign exchange trading developments

    One of the key developments over the last few years has been the increased use of technology in treasury. Treasurers now use electronic means of communication as a matter of routine. Many companies have been making and receiving payment information through proprietary electronic banking terminals provided by their banks for a number of years. Treasurers access market data through dedicated information providers and from the Internet. Companies communicate amongst themselves using email and intranets.

  • The importance of record-keeping

    As treasurers increase their use of technology, they must also ensure that adequate records of all their activities are kept. From a corporate governance perspective, it is important that internal and external audit teams can identify a clear trail of activity. CEOs and CFOs will also want to ensure that such a trail exists so that, when they affirm the level of internal controls for Sarbanes-Oxley purposes, they can do so with confidence.

  • The need to manage information

    One of the difficulties for treasurers in the electronic age is managing the quantity and quality of information necessary to do the job. The case of the cash flow forecast illustrates the problem perfectly. In those companies where cash flow forecasting is critical, the detail provided is vital. But there is always a trade-off between getting timely information and accurate information. Accurate information provided after the time when a decision needs to be taken is useless. Inaccurate information provided by that cut-off time may lead to an incorrect decision being taken.

  • Trema signs deal in Asia

    Trema has entered into a strategic partnership with Gresham Computing. Gresham will help to implement Trema solutions to clients in the Asia-Pacific region. The first client to be served in this way is energy company Petronas.

  • Developments at FXall

    Five new liquidity providers have joined the online foreign exchange platform, FXall. The banks are:

  • Technology outsourcing part two

    Last month, we reviewed the opportunities for corporate treasuries looking to solve business and technology issues by outsourcing some or all of their treasury operations. The decision to outsource to a particular agency treasury is as much, if not more, a decision about the technology platform as it is about the operational services which the agency can provide. Companies who provide this type of outsourcing service (either partially or fully) are sometimes described as BSP – Business Service Providers.