With this infrastructure in place, the account layer could carry data and rules.

Programmability means that the money movement logic sits with the money itself. Execution follows from a condition rather than from an instruction. The condition is held at the banking layer and evaluated against the actual state of the account. Kinexys built the capability; Siemens defined the use case, the rules and the way it would be operated.

The first rules focused on liquidity. One funds an account when a payment falls due that the balance cannot cover. The other draws from a central funding account whenever the balance falls below a defined level. They run on the same account, independently of each other, and neither requires an instruction to be raised upstream.

Both outcomes could be achieved with conventional instant sweeps. A sweep is agreed once and implemented by the bank, while here treasury writes and changes the rule itself, within thresholds, limits and controls it sets.

Siemens treasury now operates pool structures it sets up and modifies itself, without a bank-side implementation cycle for every change. The legal and tax framework is unchanged; what disappears is the wait for someone else to build it.

The condition is defined rather than scheduled, so concentration is no longer tied to a single daily window. Treasury can pool on the state of the accounts, at a fixed time, or both.