Cole Augustine

speaker

176 appearances 1 recordings 1 series first heard Mar 2026 last heard 26 Mar

Cole Augustine’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Mar 2026 with 1.

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Off the Rails from the U.S. Faster Payments Council - FPC · 26 March 2026 Cole Augustine on the Treasurer Perspective, personas vs use cases, and watersports · 26 Mar 2026 podcast

are sent in U.S.

dollars by 5 percent of foreign accounts are denominated in dollars.

And there's this huge industry of what's called foreign exchange auto convert, where you use this intermediary bank to kind of guess what currency the beneficiary is going to receive.

And the reason that's dominated by these large global banks is because they have that end-to-end visibility.

They can say, you know what?

Five years ago, I did send a Euro-denominated payment to this account.

I'm going to go ahead and convert that up front and take the money.

But when you start to get to the receivers, when you've got many senders and a single receiver, you really just have to change the structure of how you're approaching that problem and think much more in terms of how do you incent behavior change in the people who are sending money to you

so that they're taking the extra effort so that you don't have to act as that consolidator, so to speak.

They're lazy.

I don't know.

Of course, that's it.

I mean, obviously, you know, this is something is someone who gets very excited.

I have to step back and realize just because I'm excited about something doesn't mean everybody else is.

And, you know, this is what we live, eat and breathe, right?

Is payments, faster payments and sort of that technology.

You know, we've talked about this before, but, you know, I hold a CTP certification, admittedly, from some time ago.

But if you look at the essentials of treasury management, the guidebook, there's like 20 different chapters that cover what a treasurer does and only a few that really cover what banks do.

If you really understand the breadth of things that treasurers have on their plates, adopting faster payments is only one small part of it.

So we really have to think about what are the barriers for entry?

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