Corporate treasurers see blockchain as significant disruptor
TD Bank has released its 2017 Treasury Management survey, which finds that nearly one-quarter (23 percent) of finance professionals believe that blockchain and distributed ledger technologies will be key market disruptors in the near term.
Out of 350 corporate treasurers surveyed for the TD Bank report, 31 percent believe that process automation will be the most disruptive, while 15 percent view AI and robotics technology as the top disruptor according to a press release.
The survey also found that nearly one-third (31 percent) of treasury professionals are "leveraging solutions from fintech providers" to stay competitive.
Nearly one-quarter (23 percent) of respondents are developing their own in-house technology and 15 percent are hiring more tech-savvy employees. However, 29 percent have opted to "wait and see" where the technology goes before they jump in.
"It is no surprise that technology and automation factor high in near-term investment plans, as financial professionals and treasurers — like most functions — are continually challenged with doing more with less," Chris Giamo, head of commercial bank, TD Bank, said in the release. "The capability of these tools to increase speed, accuracy and efficiency could dramatically streamline workflows."