Standard Bank opts for Fundtech’s solution 01 October 2014New York Reporter: Mark Dugdale
Image: Shutterstock
Standard Bank has selected Fundtech’s cash management solution, Global CASHplus, to provide real-time liquidity management, cash flow forecasting and balance reporting services to its corporate customers.
Fundtech said the solution will give Standard Bank the ability to provide its corporate customers with improved liquidity through full visibility into accounts and transactions, as well as the ability to forecast and act on this information.
The African bank sought to strengthen its competitiveness in the marketplace by implementing a global liquidity management system that supports the delivery of integrated real-time services regardless of where the customer is domiciled or accounts are held, according to Funtech.
It selected Fundtech to execute this vision based in part on Fundtech’s experience in executing complex cash management and liquidity projects with large Pan-African and global banks.
Standard Bank will implement the solution first in South Africa and then other countries in which it operates.
Jerry Pearce, global product head of transactional products and services in corporate and investment banking at Standard Bank, commented: “Liquidity optimisation and cash forecasting are increasingly important to corporate treasury groups faced with a need to manage working capital and optimise surplus funds—often across borders and currencies.”
“Regardless of location or where they conduct business, Standard Bank is able to provide its customers with a seamless treasury experience.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 