18 December 2017
visit www.ebaday.com

BNP Paribas and Wachovia sign reciprocal cash management deal

13 November 2003  |  4931 views  |  0 BNPParibas

BNP Paribas Cash Management and Wachovia Bank's Treasury Services Division have signed a co-operation agreement, allowing each bank to offer cash management services to the other's corporate clients.

The contract covers account opening and management, payment and collections processing and electronic banking. The agreement also includes the provision of a treasury centralisation system, Zero Balancing Account (ZBA) for corporate clients.

The deal expands Wachovia's cash management network to France and other countries BNP Paribas' operates in, while BNP Paribas says the partnership strengthens the services offered by its subsidiary, Bank of the West, throughout the US West Coast.

As a result, the banks' corporate clients will be able to use a network of over 4500 financial centres - 2400 from Wachovia and 2100 from BNP Paribas.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

FXall signs three more to prime brokerage messaging hub

FXall signs three more to prime brokerage messaging hub

04 November 2003  |  6293 views  |  0 comments
Wachovia in fraud doublecheck with Mitek's Payee Match

Wachovia in fraud doublecheck with Mitek's Payee Match

31 October 2003  |  4685 views  |  0 comments
Wachovia and Key Bank join FXall

Wachovia and Key Bank join FXall

02 October 2003  |  5211 views  |  0 comments
Wachovia renews Yodlee aggregation contract

Wachovia renews Yodlee aggregation contract

23 September 2003  |  5267 views  |  0 comments
BNP Paribas implements SmartStream reconciliations package

BNP Paribas implements SmartStream reconciliations package

09 September 2003  |  4178 views  |  0 comments
Wachovia signs with Visa and NYCE; drops Star network

Wachovia signs with Visa and NYCE; drops Star network

29 August 2003  |  4775 views  |  0 comments
Wachovia selects BEA WebLogic for online FX application

Wachovia selects BEA WebLogic for online FX application

19 August 2003  |  4794 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.atos.netvisit www.aciworldwide.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11156 views comments | 3 tweets | 2 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
9775 views comments | 20 tweets | 21 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7698 views comments | 19 tweets | 22 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
7291 views comments | 6 tweets | 26 linkedin
Digital banking startup Loot secures £2.2 million seed roundDigital banking startup Loot secures £...
7225 views comments | 5 tweets | 11 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job