Okay. Looking at bank account structures, we must always remember that it, you do not always need to have a bank account, if you simplistically need to just make $1 transaction every year, and your core currency is Euros, why do you need a Dollar account? Just operate by doing a cross-border payment. The next option is the most common one for most companies, they have all their bank accounts in the same place, no matter what the type of currency, no matter what the legal entity, and they just operate from one bank in one geography. As you move on, if you have lots of local payments, particularly if you're collecting from private individuals in lots of different countries, you're going to need to be able to accept all different transaction types in that geography. Therefore, you may need an indigenous bank or the underlay bank solution, so you pick a local bank in each geography that will then get swept up to your regional or global bank. It may be that you decide to use an overlay bank structure, so you still have a local bank to collect all the receipts every day, but because you don't like the credit risk or you just don't want to have too many banks that you're looking at the balances for, you automatically sweep those funds at the end of that working day into your regional bank still in that same geography.

And then you also have the all the way or global bank solution, where you don't use any local banks. No matter which geography you are in, you always have your bank accounts with the same bank. That means you can then move the transactions just using that bank's infrastructure to the place that you wish to concentrate the funds to. Now let us look at each of these different structures, how they build up, how they optimize both the balances and transaction flows on your behalf, minimizing cross border flows and ensuring you are getting as much visibility and best available balances to utilize on behalf of your corporate.