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CFO Tech Outlook Weekly Brief
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What is the Meaning of ‘Effective?’ The ability of humans to ask probing questions on any phenomenon, including questions about problems that do not yet exist today, is one of our major advantages over machines. One question a friend often asked me years ago was, “You’ve been very busy, but are you effective?” His question begs another question, “What is effective?” On the question “What is effective financial risk management?” the ubiquitous word ‘effective’ appears again. This two-part article explores and attempts to answer that question in a way that would interest practitioners and stakeholders alike. First, let’s break the clause ‘effective financial risk management’ into different parts, explain each part to see what picture emerges and then reassemble all of them together. Let’s start with the elusive term 'effective.’ Everyone agrees that this word is overused, but what is a good alternative? So, we turn to Peter Drucker, the father of mod
The financial world has never lacked innovation, but it often lacks stability. For years, institutions have faced a dilemma: adopt digital currency models built for speed and scale or stick with conventional systems that offer trust but slower progress. Few have successfully combined both. As inflation rises, regulations tighten, and banking systems face unpredictable disruptions, the need for a reliable, transparent, and asset-backed digital framework has never been greater. That is where EIG Global Trust enters the picture. The company has developed a fully gold-backed digital currency framework designed specifically for central banks, commercial banks, and sovereign financial systems. It allows institutions to modernize their financial architecture without exposing themselves to volatility or regulatory uncertainty. “We’re not just creating digital money,” says Chris Paget, president. “We’re building a foundation of trust, something our clients can rely on without changing the rules of finance.” EIG Global Trust was founded by a team of six seasoned professionals, including auditors, regulators, and financial executives. Its leadership brings decades of experience working directly with governments, regulatory bodies, and global asset managers to create a system grounded in transparency and long-term value. From Proof of Value to Proof of Trust EIG Global Trust offers two principal digital currencies. The EIG Bank Coin is a one-million-dollar stable coin, large-scale bank collateral, backed entirely by physical gold and independently audited for compliance with the world’s top banking regulators and central banks. The second, USDGOLD, is once again entirely backed by physical gold pegged at $1,000 and used for operational settlements and establishing bank liquidity. Both digital currencies follow strict accounting standards established by the American Institute of Certified Public Accountants (AICPA) and are accounted for as USD cash under GAAP. Recently, the United Nations Bank for International Settlements has ruled that gold is no longer a Tier 3 asset. Instead, it is a Tier 1 cash equivalent pegged to the market price in USD. The implications are enormous as EIG Global Trust is leading the world’s fintech economy back to a USD reserve currency Gold Standard, unlike over 50 years of fiat currencies..
An organization’s financial stability and profitability hinge on its successful debt collection strategies. In their pursuit of running business operations, serving clients, and managing organizational priorities, many companies often find it challenging to collect unpaid dues. First Financial Resources (FFR) serves as a valuable partner in accounts receivable management (ARM) with its trained and certified team of collectors actively engaging in proactive communication with consumers facing debt obligations. Drawing on over 32 years of expertise in debt recovery solutions, FFR offers personalized, customer-centric solutions with compassionate assertiveness. Ensuring regular and clear interaction, FFR collaborates with debtors to identify effective solutions to facilitate payment of their unpaid dues. FFR’s solutions for unpaid dues including pre-collections and skip-tracing services, delivering boutique and locally-focused customer service nationally. “Having recently expanded to national level, we take immense pride in our ability to treat each client with the same level of care as if we were in their neighborhood,” says Terry Merrell, President and COO of First Financial Resources. As a family-owned, contingency-based business, FFR holds a diverse portfolio encompassing over 1,300 businesses with expertise in consumer and commercial work across various industries. The primary challenge for clients is the time constraints in addressing past-due accounts. In the medical industry for instance, recent regulations prevent credit reporting on medical debt until it’s one year old and exceeds $500. This poses additional challenge for clients in initial debt collection and subsequent recovery efforts. To address this, FFR ensures its collectors undergo rigorous training and certification through the American Collectors Association. They receive training to comprehend the debtor’s financial situations and are adept at handling every debt recovery. FFR engages in collaborative efforts to help consumers move forward from their financial obligations.
Growing up in Kazakhstan, where dreaming beyond survival was a luxury, Anelya Grant seized an opportunity to spend a summer in the U.S., which ignited her determination to make it her home. Despite facing obstacles like limited English skills and starting a career from scratch, she pursued a finance degree, recognizing its universal power. This decision laid the foundation for her success, building an accounting practice focused on venture-backed startups in Silicon Valley. Throughout her career, Anelya noticed a common problem—companies struggled with accounts receivable workflow, which was cumbersome, error-prone, and time-consuming for the growing company. Financial projections and reporting were hindered by the often ineffective communication between Sales and Finance. This challenge fueled her desire to find a solution. Meanwhile, Daniel Kivatinos faced a similar issue in his healthcare tech business. Despite a team of accountants, he often felt overwhelmed by complex financial reports, always searching for quick insights into his company's health. He, too, wanted a better solution. Grant’s and Kivatinos' shared experiences led them to team up with Vinay Datta Pinnaka, an expert in machine learning with a focus on building billing solutions. Pinnaka’s technical expertise was the missing piece, and together, the trio set out to create a platform that would simplify financial management, using their own struggles as a guide. Today, their business, JustPaid.ai, is a leading AI revenue management platform providing financial payment solutions, dedicated to innovating how businesses transact in the digital age. With a focus on ease of use, security, and speed, its platform supports businesses across various industries in optimizing their financial operations.
Frida Roneus, Head of Digital Strategy & Transformation, Sumitomo Mitsui Banking Corporation
Paul Young, Chief Financial Officer, Liberty Bank − CT
Ted Lane, Director of Commercial Strategies, First United Bank
Ann Downey, Vice President of Accounting, North American Bancard
Ciprian Porutiu, Management - Business Transformation, Marsh McLennan
Next-Generation Finance in Action
2025 has been a breakthrough year for digital currency and project financing. What used to feel like a distant experiment is now a core part of how financial institutions manage capital and tackle complex projects. With regulations tightening, investors demanding more transparency, and markets moving faster than ever, organizations are looking for solutions that are reliable and smart. Modern digital currency platforms are leading the way. They are flexible, interoperable, and built to meet global compliance standards. Banks and institutions can set up projects faster, work smoothly with fintech partners, and tap into real-time data to make better decisions. Features like automated compliance, tokenized assets, and smart contract financing are no longer optional—they are what keep companies competitive. Project financing is also becoming simpler and more transparent. Historically slow and fragmented, the process is now streamlined by platforms that facilitate capital flows, enhance risk visibility, and promote easier collaboration with sponsors and regulators. By combining blockchain workflows with advanced analytics, these solutions bring clarity and speed to a market that has long been complicated. The focus is on creating systems that can grow with the organization, handle volatility, and support new financial models. Security, compliance, and ESG considerations are integral to every plan, ensuring that digital innovation aligns with long-term goals. For CFOs and finance leaders, the message is clear. The choices made today around digital currency and project financing platforms will shape competitiveness for years to come. With the right tools, organizations can not only handle current challenges but also set themselves up for a future that is agile, intelligent, and trustworthy. In this edition, we spotlight insights from Christopher Phillips, Director of Anti-Money Laundering Compliance and Senior Vice President, Valley Bank, and Jack M Jacobs, Senior Vice President of Commercial Banking, WesBanco Bank Inc, as they discuss emerging trends and best practices in digital currency and project financing for 2025. We hope these valuable insights from industry leaders featured in this edition will assist you in making informed decisions for your businesses.
