For the first time ever, multinational companies will gain global connectivity that includes access to the Japanese banking networks, owned and run by NTT Data Corporation, says Reval, the leading global provider of a scalable cloud platform for treasury and risk management (TRM).
NTT DATA’s new gateway service is currently integrated only with the Reval Cloud Platform and is the result of an innovative partnership between Reval and NTT DATA.
“With our new gateway service, NTT DATA is opening Japan to the world. As Japanese companies expand globally, and as more foreign companies operate in Japan, their use of local banks increases – and so does their need for automation,” says Kazuhiro Takahashi, Head of e-Business Planning Office Second Financial Sector at NTT DATA. “We aim to make cash management, payments and settlements with our networks as streamlined and transparent as possible. We are very happy to have been able to work with Reval to deliver this new gateway service to any company using local Japanese banks. The innovation based on our respective systems brings unprecedented bank connectivity to the global marketplace.” NTT DATA is a leading IT services provider and global innovation partner headquartered in Tokyo, with business operations in over 40 countries.
NTT DATA’s new gateway service manages bank transactions via its existing eBAgent® system, a cloud-based service for corporations using multiple banks, and converts transaction results data for Japanese yen accounts to the global ISO 20022 standard and other formats. The new service provides corporates with streamlined connectivity and visibility into their bank balances and statements, reporting and payments across multiple bank interfaces from one location. This straight-through processing workflow enables efficient global cash management, while increasing security and control.
“Until now, it has been very difficult to access Japanese bank account information from overseas. Likewise, it has been difficult for Japanese companies to operate outside the banking networks of their domestic market. But with Reval now integrated within NTT DATA’s gateway service, clients can avoid the complexity of managing domestic and foreign funds across multiple banks, locations and currencies,” says Kazuo Nagasaki, Japan Country Manager at Reval, which operates as Reval Japan K.K. out of Tokyo. “We are honored to have worked with NTT DATA on this project and to be the first global cash management system provider to offer a unified bank connectivity experience through NTT DATA’s gateway service. The combination of NTT DATA’s gateway service and the Reval Cloud Platform is helping to solve a current pain point of multinational corporations, globally.”