The Psychology of Bank Fee Management: Pain Avoidance and Relief (Open Fees)

In this episode, Craig Jeffery and Stephan Ireland of Open Fees examine why bank fee management is easy to avoid but costly to ignore. They discuss what account analysis statements can reveal about unnecessary services, internal behavior, and control gaps, and how automation can turn a tedious monthly review into actionable insight for managing banking relationships. Webinar: Managing Banking Relationships: A More Intentional Approach (Open Fees) Episode 402: The Hidden Risks in Your Bank Fee Analysis and How to Fix Them Open Fees Timestamps: 00:00 Introduction 00:42 Why bank fee management gets avoided 05:00 Why normal invoice review breaks down 09:11 About Open Fees 11:19 What bank statements reveal 16:57 Bank fees, risk, and fraud controls 22:20 Automating bank fee analysis 26:15 How to approach fee management 32:33 Overcoming inertia 34:27 Why "Open Fees" 37:22 Final thoughts 37:55 Outro ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ABOUT STRATEGIC TREASURER ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Strategic Treasurer is recognized as a top tier consulting firm in the area of treasury and risk management. Corporate clients, banks, and technology vendors all rely on their industry leading advisory services that are backed by a deep awareness of current needs, practices, and budgeting priorities of treasury professionals through Strategic Treasurer's annual industry surveys and decades of treasury experience. Strategic Treasurer utilizes a senior consultant model where every project is managed by senior consultants with actual practitioner experience in corporate and/or banking roles. Download The Strategic Treasurer: A Partnership for Corporate Growth by Craig A. Jeffery in Kindle, or hardcover. As an Amazon Associate, we earn from qualifying purchases. Visit us today at StrategicTreasurer.com. Or join in the discussion at one of our leading LinkedIn groups.

In this episode, Craig Jeffery and Anders Meinert Jørgensen of Avallone discuss why KYC remains one of treasury's biggest operational pain points and how technology can reduce the burden. They explore AI-assisted responses, data security, human oversight, and how KYC may evolve as digital identity and shared utility models mature. Why KYC Is No Longer Just a Compliance Issue for Treasury (Avallone) (2026) Avallone Timestamps: 00:00 Introduction 00:33 Why KYC is a treasury pain point 02:14 KYC nightmare examples 04:20 Operational challenges 09:00 About Avallone and Anders 11:01 Using AI to reduce KYC work 13:07 Avoiding AI errors 16:00 Data privacy and model training 17:50 Build vs. buy for KYC 21:11 The future of KYC 23:32 Digital identity and tokenization 27:25 KYC utilities and interoperability 29:02 Final thoughts 29:38 Outro ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ABOUT STRATEGIC TREASURER ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Strategic Treasurer is recognized as a top tier consulting firm in the area of treasury and risk management. Corporate clients, banks, and technology vendors all rely on their industry leading advisory services that are backed by a deep awareness of current needs, practices, and budgeting priorities of treasury professionals through Strategic Treasurer's annual industry surveys and decades of treasury experience. Strategic Treasurer utilizes a senior consultant model where every project is managed by senior consultants with actual practitioner experience in corporate and/or banking roles. Download The Strategic Treasurer: A Partnership for Corporate Growth by Craig A. Jeffery in Kindle, or hardcover. As an Amazon Associate, we earn from qualifying purchases. Visit us today at StrategicTreasurer.com. Or join in the discussion at one of our leading LinkedIn groups.

In this episode, Craig Jeffery and Ryan Castle of Conduit Security examine how sophisticated wire fraud schemes exploit legitimate payment processes. Drawing on real-world cases and Ryan's former FBI experience, they discuss compromised email accounts, altered payment instructions, deepfakes, money mules, and the pressure criminals use to bypass otherwise sound controls. They also explore treasury's role as the superintendent of payments and the incident-response playbook organizations should prepare before a loss occurs. For more from Conduit Security, watch their participation in Strategic Treasurer's Fintech Hotseat Head-2-Head: Compliance. Payment Security Report FBI Internet Crime Complaint Center (IC3) Conduit Security Timestamps: 00:00 Introduction 01:00 Compromised closing payment 05:23 Fraudulent vendor verification 08:23 The criminal fraud playbook 13:00 How money mules move funds 16:58 About Ryan Castle and Conduit Security 18:54 Treasury's exposure and controls 26:12 Superintendent of payments 29:03 Building a defensive playbook 35:43 Incident response and recovery 41:27 Final thoughts ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ABOUT STRATEGIC TREASURER ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Strategic Treasurer is recognized as a top tier consulting firm in the area of treasury and risk management. Corporate clients, banks, and technology vendors all rely on their industry leading advisory services that are backed by a deep awareness of current needs, practices, and budgeting priorities of treasury professionals through Strategic Treasurer's annual industry surveys and decades of treasury experience. Strategic Treasurer utilizes a senior consultant model where every project is managed by senior consultants with actual practitioner experience in corporate and/or banking roles. Download The Strategic Treasurer: A Partnership for Corporate Growth by Craig A. Jeffery in Kindle, or hardcover. As an Amazon Associate, we earn from qualifying purchases. Visit us today at StrategicTreasurer.com. Or join in the discussion at one of our leading LinkedIn groups.

In this episode, Craig Jeffery and Paul Galloway discuss the economic conditions treasury teams should be watching through the remainder of 2026. They cover Fed leadership, inflation, labor markets, liquidity, working capital, geopolitical risk, tariffs, sanctions, and the importance of using reliable data and banking relationships to stay informed. Liquidity Stress Testing: Preparing Treasury for Shock Events (2026) Supply Chain Finance and Cash Conversion Cycle Explained (2026) Timestamps: 00:00 Introduction 00:48 New Fed leadership and monetary policy 04:53 Growth, inflation, and energy 08:47 Treasury's economic outlook 10:44 Geopolitical risk, tariffs, and sanctions 16:07 How treasury teams can stay informed 18:46 AI, data, and economic analysis 20:17 Final thoughts 20:38 Outro ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ABOUT STRATEGIC TREASURER ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Strategic Treasurer is recognized as a top tier consulting firm in the area of treasury and risk management. Corporate clients, banks, and technology vendors all rely on their industry leading advisory services that are backed by a deep awareness of current needs, practices, and budgeting priorities of treasury professionals through Strategic Treasurer's annual industry surveys and decades of treasury experience. Strategic Treasurer utilizes a senior consultant model where every project is managed by senior consultants with actual practitioner experience in corporate and/or banking roles. Download The Strategic Treasurer: A Partnership for Corporate Growth by Craig A. Jeffery in Kindle, or hardcover. As an Amazon Associate, we earn from qualifying purchases. Visit us today at StrategicTreasurer.com. Or join in the discussion at one of our leading LinkedIn groups.

In this episode, Craig Jeffery and Paul Galloway discuss what separates high-performing treasury organizations from the rest. They explore the importance of strong fundamentals, continuous improvement, people development, cross-training, standardized processes, proactive risk management, and technology that supports better decision-making. The discussion also offers practical steps treasury teams can take to reduce manual work and build capabilities over time. 2026 Treasury Technology Analyst Report Treasury Assessments: What to Review and How Often (2026) Treasury Aggregators: Simplifying Complexity with Connectivity (2026) TMS and TRMS: Choosing the Right Treasury System in 2026 (2026) Timestamps: 00:00 Introduction 01:18 What separates high-performing treasury teams 02:24 Governance, policies, and controls 03:34 Building a continuous improvement mindset 05:12 Investing in people and culture 07:40 Collaboration and cross-training 09:40 Standardized processes and cash visibility 12:23 Proactive risk management 12:59 How leading teams use technology 15:20 Where treasury teams should start 18:01 Final thoughts 18:24 Outro ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ABOUT STRATEGIC TREASURER ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Strategic Treasurer is recognized as a top tier consulting firm in the area of treasury and risk management. Corporate clients, banks, and technology vendors all rely on their industry leading advisory services that are backed by a deep awareness of current needs, practices, and budgeting priorities of treasury professionals through Strategic Treasurer's annual industry surveys and decades of treasury experience. Strategic Treasurer utilizes a senior consultant model where every project is managed by senior consultants with actual practitioner experience in corporate and/or banking roles. Download The Strategic Treasurer: A Partnership for Corporate Growth by Craig A. Jeffery in Kindle, or hardcover. As an Amazon Associate, we earn from qualifying purchases. Visit us today at StrategicTreasurer.com. Or join in the discussion at one of our leading LinkedIn groups.

In this episode, Paul Galloway and Craig Jeffery discuss how treasury leaders can make better decisions when resources, time, and management attention are limited. They examine how to prioritize competing initiatives, balance short-term wins with long-term strategy, avoid reacting only to urgent issues, and evaluate investments in the broader context of the organization. The discussion also covers resource constraints, root-cause thinking, cross-functional input, and the importance of regularly reviewing people, processes, technology, data, and structure. Behavioral Finance Meets Treasury: How Bias Shapes Financial Decisions (2025) Architecting a Leading Treasury Group with Ron Chakravarti (2024) Becoming a Treasurer: Part 6 – Securing the Resources You Need (2019) Timestamps: 00:00 Introduction 01:32 Why prioritization is difficult 05:15 Evaluating major investments 06:51 Short-term wins vs. long-term goals 10:47 Common decision-making mistakes 12:57 Building a strong decision framework 16:38 Final thoughts 16:45 Outro ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ABOUT STRATEGIC TREASURER ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Strategic Treasurer is recognized as a top tier consulting firm in the area of treasury and risk management. Corporate clients, banks, and technology vendors all rely on their industry leading advisory services that are backed by a deep awareness of current needs, practices, and budgeting priorities of treasury professionals through Strategic Treasurer's annual industry surveys and decades of treasury experience. Strategic Treasurer utilizes a senior consultant model where every project is managed by senior consultants with actual practitioner experience in corporate and/or banking roles. Download The Strategic Treasurer: A Partnership for Corporate Growth by Craig A. Jeffery in Kindle, or hardcover. As an Amazon Associate, we earn from qualifying purchases. Visit us today at StrategicTreasurer.com. Or join in the discussion at one of our leading LinkedIn groups.

*]:pointer-events-auto R6Vx5W_threadScrollVars scroll-mb-[calc(var(--scroll-root-safe-area-inset-bottom,0px)+var(--thread-response-height))] scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]" dir="auto" data-turn-id= "request-6a5f9aa2-1c18-83ea-b6a5-b24b7ec14493-5" data-turn-id-container= "request-6a5f9aa2-1c18-83ea-b6a5-b24b7ec14493-5" data-testid= "conversation-turn-48" data-turn="assistant"> In this episode, Paul Galloway and Craig Jeffery discuss treasury technology debt, the hidden burden created when legacy systems and infrastructure continue to work but increasingly limit flexibility, security, and future capabilities. They explain how treasury teams can assess technology and identify where outdated tools create the most drag, and how to prioritize upgrades without trying to replace everything at once. The discussion also covers ISO 20022, APIs, AI, cloud-native architecture, interoperability, and why treasury should regularly review its technology stack to maintain a practical runway for future change. 2026 Treasury Technology Analyst Report The Hidden Costs of Complexity in Treasury Operations (2026) TMS and TRMS: Choosing the Right Treasury System in 2026 (2026) Treasury Assessments: What to Review and How Often (2026) Timestamps: 00:00 Introduction 01:16 What is treasury technology debt? 02:45 Common forms of technology debt 04:28 How outdated technology impacts treasury 06:44 Identifying and prioritizing technology debt 10:25 Payment standards and ISO 20022 11:31 Reducing technology debt strategically 14:15 APIs, interoperability, and modernization 15:40 Building a sustainable technology roadmap 16:31 Final thoughts 16:48 Outro ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ABOUT STRATEGIC TREASURER ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Strategic Treasurer is recognized as a top tier consulting firm in the area of treasury and risk management. Corporate clients, banks, and technology vendors all rely on their industry leading advisory services that are backed by a deep awareness of current needs, practices, and budgeting priorities of treasury professionals through Strategic Treasurer's annual industry surveys and decades of treasury experience. Strategic Treasurer utilizes a senior consultant model where every project is managed by senior consultants with actual practitioner experience in corporate and/or banking roles. Download The Strategic Treasurer: A Partnership for Corporate Growth by Craig A. Jeffery in Kindle, or hardcover. As an Amazon Associate, we earn from qualifying purchases. Visit us today at StrategicTreasurer.com. Or join in the discussion at one of our leading LinkedIn groups.

In this episode, Craig Jeffery and Karthik Manimozhi of Eftsure discuss how AI is reshaping payment fraud and the controls treasury teams need to protect payment integrity without sacrificing efficiency. They examine the three core questions of how to ensure payments go to the right payee, at the right amount, and at the right time, along with the need for a control tower spanning AP, treasury, banks, and ERPs and payment rails. The conversation also explores agent oversight, AI-native workflows, continuous auditing, and opportunities to unlock working capital. Payment Security Report: https://strategictreasurer.com/payment-security-report/ Scammer's Playbook: How AP and Finance Teams Are Losing Money (2026): https://strategictreasurer.com/webinar-ai-powered-attacks-on-treasury/ Payment Scamming: Exploitation and Defense (Eftsure) (2026): https://strategictreasurer.com/400-payment-scamming-exploitation-and-defense/ Cybercrime Prevention: The Where and Why of Scams (Eftsure) (2026): https://strategictreasurer.com/410-cybercrime-prevention/ Global companies lost 7.7% of annual revenue to fraud ($534B in 2024); 9.8% for US enterprises. Source: TransUnion, H2 2025 Global Fraud Report: https://newsroom.transunion.com/h2-2025-global-fraud-report/ Financial institutions incur an average total cost of $5+ for every $1 of fraud loss. Source: LexisNexis, True Cost of Fraud study: https://chainstoreage.com/study-total-cost-fraud-now-exceeds-5-every-1-direct-loss JP Morgan Working Capital Index rose from 106.6 (2018) to 116, with roughly $701B to $761B unlockable on a 1% move. Source: J.P. Morgan Working Capital Index: https://www.jpmorgan.com/content/dam/jpmorgan/images/payments/working-capital-index/increasing-efficiency-working-capital-index-2024-ada.pdf Occupational fraud costs the typical organisation about 5% of revenue, averaging roughly $1.7M per case. Source: ACFE, Occupational Fraud 2024: A Report to the Nations: https://www.acfe.com/-/media/files/acfe/pdfs/rttn/2024/2024-report-to-the-nations.pdf On average, enterprises run more than 300 distinct SaaS platforms. Source: Productiv: https://productiv.com/blog/saas-statistics-that-every-it-manager-should-see/ Eftsure: https://www.eftsure.com Timestamps: 00:00 Introduction 00:39 Fraud, errors, and the cost of trust 04:20 Right payee, amount, and timing 06:20 AI, working capital, and liquidity 09:05 About Eftsure and Karthik Manimozhi 11:42 Payment controls across the technology stack 13:47 AI agents and autonomous oversight 17:04 Building a payment control tower 22:06 Designing AI-native finance workflows 27:18 Practical steps for finance leaders 31:28 Final thoughts 31:46 Outro ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ABOUT STRATEGIC TREASURER ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Download The Strategic Treasurer: A Partnership for Corporate Growth by Craig A. Jeffery in Kindle, or hardcover: https://amzn.to/4uqwFQq As an Amazon Associate, we earn from qualifying purchases. Strategic Treasurer is recognized as a top tier consulting firm in the area of treasury and risk management. Corporate clients, banks, and technology vendors all rely on their industry leading advisory services that are backed by a deep awareness of current needs, practices, and budgeting priorities of treasury professionals through Strategic Treasurer's annual industry surveys and decades of treasury experience. Strategic Treasurer utilizes a senior consultant model where every project is managed by senior consultants with actual practitioner experience in corporate and/or banking roles. Visit us today at http://strategictreasurer.com. Or join in the discussion at one of our leading LinkedIn groups: http://strategictreasurer.com/linkedin/

In this episode, Craig Jeffery and Arjun Krishnan discuss five key limitations of enterprise AI in treasury: data quality, pattern-based reasoning without true understanding, difficulty handling novel situations, variable outputs, and limited explainability. They also explore the opportunities and solutions behind these constraints, including AI-assisted data cleanup, anomaly detection, stronger controls, human oversight, and safer agent-based system design. Enterprise AI for Treasury: A Guide to Agentic Implementation: https://amzn.to/4vTH8Fv AI: The Automation Spectrum and Examples in Treasury (Valorean Technologies) (2026): https://strategictreasurer.com/420-ai-automation-spectrum-and-examples-in-treasury/ Valorean Technologies: https://valorean.ai/ Timestamps: 00:00 Introduction 00:34 AI limitations and opportunities 02:05 Data quality shapes AI quality 05:35 AI correlates but does not understand 09:29 Arjun Krishnan's background 10:18 AI and genuinely novel situations 12:37 Why AI outputs can vary 16:29 Explainability and audit trails 19:14 The most critical limitations 20:32 Final thoughts and book 20:54 Outro ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ABOUT STRATEGIC TREASURER ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Download The Strategic Treasurer: A Partnership for Corporate Growth by Craig A. Jeffery in Kindle, or hardcover: https://amzn.to/4uqwFQq As an Amazon Associate, we earn from qualifying purchases. Strategic Treasurer is recognized as a top tier consulting firm in the area of treasury and risk management. Corporate clients, banks, and technology vendors all rely on their industry leading advisory services that are backed by a deep awareness of current needs, practices, and budgeting priorities of treasury professionals through Strategic Treasurer's annual industry surveys and decades of treasury experience. Strategic Treasurer utilizes a senior consultant model where every project is managed by senior consultants with actual practitioner experience in corporate and/or banking roles. Visit us today at http://strategictreasurer.com. Or join in the discussion at one of our leading LinkedIn groups: http://strategictreasurer.com/linkedin/

In this episode, Lee Patton and Craig Jeffery discuss what corporate treasury teams must do to prepare for the November 2026 ISO 20022 structured address requirements. They discuss why the rules can affect organizations even when they do not originate ISO 20022 files, how incomplete payment inventories and address data can cause rejections, and why treasury, AP, IT, banks, and service providers must coordinate to validate payment workflows and data readiness. ISO 20022 Readiness Webinar: https://strategictreasurer.com/webinar-iso-20022-readiness/ Swift ISO 20022 Address Requirements: https://www.swift.com/standards/iso-20022/iso-20022-faqs/iso-20022-removal-unstructured-address Fedwire ISO 20022 Implementation Center: https://www.frbservices.org/resources/financial-services/wires/iso-20022-implementation-center What Is ISO 20022? (2021): https://strategictreasurer.com/44-what-is-iso-20022/ Updating ISO 20022: Exploring New Formats, Data, and Benefits (2023): https://strategictreasurer.com/277-updating-iso-20022/ Demystifying ISO 20022: The Future of Payment Formats (2024): https://strategictreasurer.com/webinar-demystifying-xml-iso-20022/ ISO 20022: From Compliance to Competitive Advantage (2025): https://strategictreasurer.com/372-iso-20022/ Timestamps: 00:00 Introduction 00:21 What ISO 20022 payment readiness means 01:11 November 2026 structured address requirements 03:01 Why non-ISO payment files are affected 04:14 Common payment readiness gaps 06:08 Assessing data and payment workflows 07:34 Final readiness checklist 08:39 Closing thoughts 08:59 Outro ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ABOUT STRATEGIC TREASURER ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Download The Strategic Treasurer: A Partnership for Corporate Growth by Craig A. Jeffery in Kindle, or hardcover: https://amzn.to/4uqwFQq As an Amazon Associate, we earn from qualifying purchases. Strategic Treasurer is recognized as a top tier consulting firm in the area of treasury and risk management. Corporate clients, banks, and technology vendors all rely on their industry leading advisory services that are backed by a deep awareness of current needs, practices, and budgeting priorities of treasury professionals through Strategic Treasurer's annual industry surveys and decades of treasury experience. Strategic Treasurer utilizes a senior consultant model where every project is managed by senior consultants with actual practitioner experience in corporate and/or banking roles. Visit us today at http://strategictreasurer.com. Or join in the discussion at one of our leading LinkedIn groups: http://strategictreasurer.com/linkedin/