As 2025 draws to a close, Trade Treasury Payments looks back at the themes that defined the year across trade, treasury, payments, and risk, and considers what 2026 may bring.

In this year end conversation, Trade Treasury Payments’ Deepesh Patel is joined by Carter Hoffman to discuss five major developments that shaped 2025, including tariffs and fragmentation, liquidity engineering and fraud, pressures on corporate treasurers, payments transformation, and the evolving technology landscape. The discussion concludes with four predictions for the year ahead.