Idemia then centralised Asia Pacific liquidity management by establishing a cash pool with two-way zero balancing sweeps between header accounts held at their regional headquarter in Singapore and entities in four key Asian markets. This granted Idemia the standard interface needed to help their treasury teams manage cash in all accounts more efficiently. On discussions with HSBC, Idemia implemented the Kyriba Treasury Management System (TMS) as their global treasury management platform.
Idemia needed an easily-scalable solution that provided a consistent link to their banks. The objectives of this transformation were to improve visibility on cash positions, and achieve more efficient funding for its Asia Pacific operations.
This was so that we could achieve efficiency gains through a reliable and robust set-up”. Said Philippe Berneur, Financing and Treasury Director, Idemia: “The extensive presence of Idemia in Asia Pacific and the diversity of currencies handled there made streamlining our treasury management crucial. This compelled Idemia to fully integrate their treasury, and standardise and automate as many processes as possible. Treasurers had to manually consolidate and mobilise cash from each market, and also manually track interest from intercompany loans.Īdditionally, as Idemia had taken on debt to finance the Morpho acquisition, they recognised the need to better utilise surplus cash within their organisation to reduce external borrowing and costs. The absence of overall system integration resulted in poor control of cash balances and complicated funding management. These teams used different systems to manage funds held with 30 different banks across the region, including HSBC. Challengesįollowing the merger, Asia Pacific treasury functions were still managed by various decentralised teams that previously belonged to the two entities. They formed in 2017 following a merger between Oberthur Technologies and Safran Identity & Security (Morpho). They are one of the world’s leading providers of facial and biometric identification systems and payment security technology.
Headquartered in France, Idemia is a security and identification solutions company. Global leader in augmented identity cracks the code for a digital treasury transformation in Asia Pacific Background & Scope
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