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Corporate Treasury - Here We Come



We at Allevo hope you all had a great time this summer and, now that you’re back in the office, we welcome you with great news on our most recent and also our most exciting project yet!


With help from the EU, as beneficiaries of the Competitiveness Operational Programme 2014-2020, we just embarked on a 2-year journey for developing an innovative open source solution for corporate treasuries. We must admit we’ve been waiting for this moment for some time now, since many of the SMEs we’ve discussed with had expressed interest in such a project and we are obviously looking forward to making it happen.



Please know that our future software suite will also benefit from a redesigned portal, as well as an automated testing tool and a benchmarking tool. Yay!


The main purpose of our project (by its official name, TOSS – Treasure Open Source Software) is to enhance access to ICT in a cost- and time-efficient manner as far as the processing and settlement of corporate financial operations are concerned.




Here is how we are going to achieve that:


  • Develop a treasury software suite which would consolidate payments initiated, among others, by ERP and HR systems. This way, we’ll help optimize the corporate financial decisions.

  • Build a modern architecture in order to connect corporations to the banks they’re working with, thus empowering corporations to use the same kind of technology that banks use.

  • Develop a system designed to centralize financial and treasury operations.

  • Build a short-term prediction component for liquidity flows, which would allow corporations to identify potential delay risks in terms of their own financial obligations ahead of time, in order to take measures for avoiding them.




Target Audience of this Project

  • Big manufacturers (automotive, pharma, and energy industries, among others)

  • Service providers (distribution of utilities, distribution of goods, retail chains, and many more)

  • Small and medium enterprises that are collaborating with big manufacturers

  • Financial transactions processors or third-party service providers for certain financial instruments

  • Intra- or inter-sectorial financial infrastructures


Other potential extensions regard the relationship between the corporation and its individual or institutional clients, as well as sharing certain information with them or even allowing some financial operations to accompany the exchange of goods or services.



This project is co-financed by the European Regional Development Fund under the Competitiveness Operational Programme 2014-2020, Priority Axis 2 “Information and Communications Technology (ICT) for a competitive digital economy”.




PSD2 News from EBA - July 2017


July was a pretty busy month for EBA in terms of PSD2 updates.

No wonder, actually, as implementation is due in less than 6 months.




7 July - Final Guidelines on Professional Indemnity Insurance (PII) under PSD2


These Guidelines, applicable from 13 January 2018, address the criteria on how to stipulate the minimum monetary amount of the professional indemnity insurance (PII) or other comparable guarantee for payment initiation services (PIS) and account information services (AIS).


Companies that intend to carry out these services will need PII cover or a comparable guarantee as a prerequisite to be granted authorization, thus strengthening the liability regime governing the interactions between the different actors involved in electronic payment transactions.



11 July - Final Guidelines on Authorization and Registration under PSD2


These Guidelines focus on the information to be provided by applicants intending to obtain authorization as payment and electronic money institutions as well as to register as account information service providers (AISP) under PSD2.


The detailed documentation that applicants are required to submit to national competent authorities for the purpose of authorization or registration varies depending on the type of service(s) an applicant intends to provide, as: payment institutions, account information service providers, electronic money institutions, or competent authorities.



24 July - Consultation on the Future EBA Register under PSD2


The public consultation, which runs until 18 September 2017, addresses the draft regulatory technical standards (RTS) and implementing technical standards (ITS) on the EBA electronic central register, which respectively set requirements on the development, operation and maintenance of the register and the information to be contained in it.


The register ‎will include information about payment and electronic money institutions, account information service providers, their agents and branches, which are authorized or registered in the Member States.


Its purpose is to ensure transparency of the operation of these institutions in the EU, enhance cooperation between the competent authorities in the Member States and ensure a high level of consumer protection.




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