A synopsis of the challenges international development organisations (both small and large) face in managing, moving and protecting cash across multiple bank partners and accounts.
StoneX and TIS have combined forces, partnering with organisations who want to get a better hold of moving, managing and protecting their money both domestically and internationally. Today, they share experiences of the most frequently asked questions that they feel are relevant for international development organisations of varying sizes to approach these challenges, an exchange of knowledge and best practices.
Topics covered in this session include:
- Where’s my money? Tackling a lack of cash visibility and the associated risks and security concerns.
- How do we spend less time reconciling bank statements? Juggling multiple types and formats of inconsistent and unreliable data.
- How can we reduce bank fees? Managing the costs and charges of working with banking partners and accounts.
- Where can we be more efficient? Spending hours if not days manually balancing the books.
- How do to manage perception of ‘high risk’? Banks becoming less and less willing to take (perceived) compliance risks.
- How can I rationalise the number of bank partners? Administering accounts is burdensome.
