A push to standardise, automate and connect finance operations dominated Standard Chartered’s Treasury Leadership Forum, where Patricia Wong, Head of International Corporates, Corporate and Investment Banking, Standard Chartered, Malaysia, said the path to resilience runs through data, APIs and stronger liquidity control as shared services centres (SSC) and global business services (GBS) scale across the country—an agenda centred on future-proofing businesses through digitalisation.
Key pressure points and why they matter
SSC and GBS have delivered gains in quality, service and efficiency, yet firms face rising pressure to personalise service and handle higher transaction volumes. Cost pressure, market volatility and technological disruption are accelerating the need to transform. Malaysia’s cost‑effective location, mature tech base, geopolitical stability and tax incentives underpin GBS growth and foreign direct investment—conditions that support future-proofing businesses through digitalisation.
“The answer to many of these challenges lies in digitalisation. Intelligent automation and insight‑driven technologies such as robotic process automation and analytics not only support but also enable new ways of doing work” Patricia Wong said.
From vision to execution: data, liquidity and forecasting
Forum discussions flagged familiar treasury hurdles: limited visibility into global operations, gaps in digital capabilities and systems, and liquidity and FX volatility. Near‑term priorities include enhancing liquidity management, improving cash forecasting and optimising capital structure—often blocked by poor data quality, lack of effective tools, weak incentives for units to submit forecasts and skills gaps. Case studies referenced Straight2Bank Liquidity and cross‑border USD end‑of‑day sweeps that helped sustain uninterrupted working capital—practical building blocks for future-proofing businesses through digitalisation.
APIs, e‑invoicing and the (declining) dominance of cash
APIs are enabling real‑time transactions and deeper system integration; one multinational automated reward disbursements so claims flowed directly from the client account to beneficiaries via immediate payment rails with live status updates. On payables, nearly 65% of B2B players now offer e‑commerce capabilities, while the cost to process one invoice still ranges US$12–US$40 (RM56–RM186)—a gap digital tools can narrow. Despite e‑payments growth, cash remains prevalent in Malaysia, though the country is nearing an inflection point where cash use tapers. Practical guidance stressed “eliminate, then standardise, then automate,” aligned with culture and policy, with leadership‑backed implementation plans—steps essential to future-proofing businesses through digitalisation.
Patricia quoted, “This is by creating a human and robotic workforce that leverages on unique individual strengths while augmenting and enabling each other”.
Bottom line: For Malaysian corporates, turning strategy into shop‑floor reality means better data, stronger forecasting, API‑led connectivity and disciplined change management across SSC/GBS and treasury—the practical core of future-proofing businesses through digitalisation.
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Guest idea’s:
Patricia Wong
Head of Corporate, Commercial & Institutional Banking (CCIB) and Head of International Corporates
Standard Chartered Malaysia
Patricia Wong is Head of Corporate, Commercial & Institutional Banking (CCIB) and Head of International Corporates at Standard Chartered Malaysia. She also serves as Regional Head of Global Subsidiaries for ASEAN.
She took on the role of leading client coverage in CCIB Malaysia in August 2022, succeeding Mak Joon Nien, while also assuming the regional responsibility for global subsidiaries in ASEAN. Wong is known for steering the bank’s sustainability agenda, digitalisation strategy, and trade finance capabilities. Under her stewardship, Standard Chartered has emphasised sustainable trade, ESG (Environmental, Social and Governance) reporting, and digital solutions such as Straight2Bank to enable clients’ operational resilience and transition efforts.