New technologies and changing client needs are having their impact on how companies move and manage money. Many payments and cash management processes that were once managed in batches are becoming increasingly real-time, a reality that is bringing both new opportunities and new challenges for banks and corporates.

Societe Generale has appointed Emmanuelle Fischer-Frapet to lead its global payments and cash management business line. She brings nearly two decades of experience across transaction banking, with roles covering client-facing, operational, and product development functions.

Trade Treasury Payments (TTP) spoke with Fischer-Frapet about the key changes she is seeing across payments and treasury, how corporates are adapting, and what will matter most for banks and their clients in the years ahead.

Trade Treasury Payments (TTP): To start, could you introduce yourself, your background, and your current role?

EF: I joined Societe Generale quite a long time ago, after working in another bank, in consulting, and in industry. I’ve spent much of my career in transaction banking, which has helped me build a comprehensive view of the business.

I started in solution teams that were responsible for designing and developing new products for corporate clients, particularly in payments and treasury. I later took on front-office roles, working directly with corporate clients, and later managed middle- and back-office operations across trade, cash management, and correspondent banking.  This experience across the full value chain strongly shapes how I approach my role today: combining client proximity, operational excellence, and innovation to support corporates in an increasingly complex and fast-moving financial environment.

Instant payments and the move to real-time finance

TTP: Payments and cash management have changed significantly in recent years. What are the biggest shifts you’re seeing today?

EF: We are seeing many changes, but what is most visible today is the move towards instantaneity. Instant payments first developed on the retail side, but adoption among corporates is now accelerating, driven by the B2C segment. With regulatory developments, such as the removal of transaction thresholds, means that large amounts are now being processed via instant payment rails.

Companies are increasingly using instant payments for treasury purposes, such as intercompany transfers or closing activities. We are also having advanced discussions with clients about extending instant payments to a broader range of their day-to-day transactions. This shift is closely linked to real-time liquidity management. Companies want a real-time view of their working capital so they can optimise it more effectively.

At the same time, digital assets are becoming a more tangible topic. A few years ago, discussions were largely theoretical. Today, we are starting to see concrete use cases. For me, all of this ties back to instantaneity – fast, frictionless payments, available 24/7, 365 days a year.

Another significant trend is the growing demand from clients for greater autonomy. As companies become more digitalised – using ERPs, APIs, and integrated systems – they expect more self-service capabilities. This includes managing user rights, mandates, and contracts digitally, and interacting with banks through tools such as ticketing systems.

Finally, regulation, security, and compliance continue to have a major impact. New regulations are regularly introduced, requiring substantial investment from banks. This also affects clients directly. For example, last year’s implementation of verification of payee (VoP) has required changes to their internal systems. Fraud prevention is also a major concern, with companies increasingly focused on protecting themselves.

TTP: How are corporates adapting their approach to payments and cash management in response to these changes?

EF: We are seeing a clear acceleration in digitalisation among corporates. Many are strengthening their integration with banks through treasury management systems and ERPs, and demand for APIs continues to grow.

Historically, many companies relied on e-banking interfaces, but today we see a clear shift towards API-based connectivity, particularly among more technology-driven clients such as fintechs and payment service providers.

There is also a trend towards centralisation of treasury functions. Companies want a global view of their liquidity, which is driving the creation of shared service centres and payment factories.

However, moving to a real-time environment requires significant operational changes. Traditionally, treasury activities were structured around a daily cycle, with cut-off times and end-of-day processes. With 24/7 payments, this model is no longer sufficient.

Companies will therefore need to adapt their operating models. Some may adopt “follow-the-sun” treasury structures, while others may rely more heavily on technology. Artificial intelligence – particularly agentic AI – can play a role here. AI is likely to provide recommendations, with treasurers retaining approval. For example, sensitive operations – notably investments – still require human intervention for the final decision. In any case, agentic AI will significantly change how treasury is managed and help companies address the challenges created by instantaneity.

TTP: What are the main barriers to adopting AI and other new technologies?

EF: AI is clearly a key topic of discussion today, but at this stage it is more about what lies ahead – although the speed at which the technology is progressing means that this future is fast becoming a reality. 

There are several obstacles at this stage. First, these technologies are still relatively new, and organisations need time to understand them properly, adapt their processes and build the necessary capacities. Trust is another important factor, as AI is not always infallible and their limitations need to be fully understood before they can be widely adopted. Security is also a critical issue for both the bank and our clients. We are seeing a growing number of cyberattacks and fraud attempts, and this is likely the biggest barrier to adoption today, as companies are increasingly concerned about fraud and cyber threats.

Finally, as technology continues to evolve, so do the associated risks. Looking ahead, developments such as quantum computing could eventually challenge existing encryption standards. This makes it essential to think ahead and ensure that security measures are in place for the future.

Trust, risk, and the future of banking in a real-time world

TTP: Looking ahead, what will differentiate leading banks over the next five years?

EF: Banks will continue to play a crucial role as trusted third parties in a rapidly evolving financial ecosystem. The regulatory framework we operate in, while complex, offers a high level of protection for clients. Trust will remain a key competitive advantage, especially compared to newer, less regulated market entrants.

Innovation, however, is not happening in isolation. Fintechs and payment service providers are strong drivers of change, bringing agility and new technological capabilities to the market. Banks are increasingly integrating these players into broader ecosystems, combining innovation with the scale and breadth of services that banks provide.

At the same time, the industry is moving towards a world of instant, global payments. Today, however, there is still significant fragmentation – for example, instant payments are largely limited to specific regions and currencies.

Clients want the ability to make instant payments anywhere in the world, in any currency. Digital assets may help address this challenge. At Societe Generale, we are exploring use cases such as cross-border instant payments and real-time treasury transfers, and assessing how stablecoins could support these evolving needs.

TTP: What are your key priorities in your current role?

EF: My first priority is service quality. Clients expect reliable, high-performance systems that can manage large volumes without disruption. Societe Generale invests heavily in its payment platforms, account management systems, and liquidity solutions to ensure that we are able to deliver on these expectations.

Security and compliance are equally critical. Our systems must be robust, compliant, and resilient to cyber threats. Beyond that, we focus on enhancing the digital experience for clients, particularly by extending self-service functionalities expected by treasurers and improving the overall digital journey.

Finally, instantaneity is a major focus. Our goal is to support real-time, cross-border payments and help clients manage their liquidity more effectively, with real-time visibility and the ability to take action at any moment.

TTP: To close, what message would you give to clients about preparing for the future?

EF: Preparing for the future is a shared responsibility. And my message is simple: trust your banking partner. We are investing to deliver innovation, new technologies, and instant capabilities in a secure environment. At the same time, clients also need to invest. Many still operate with batch-based systems, and they will need to transition towards real-time infrastructures.

Above all, this is a partnership. We work closely with our clients to understand their priorities and ensure that the solutions we develop deliver real, tangible value. It’s an ongoing dialogue, built on trust, with the common objective: shaping the future of payment and cash management together.