Sakura Bank's Los Angeles-based subsidiary Manufacturer's Bank is using technology from Fundtech to provide e-commerce and Internet-based cash management services to its corporate customers.
The bank, a long-standing Fundtech customer, has integrated Fundtech's webAccess and Pay$tar products to automate the transfer of payment orders and advices between its funds transfer and cash management systems.
Marketed to customers under the CMConnectCash brand, the integrated system gives Manufacturers' corporates direct access to the entire range of Fundtech's cash management services, including previous and current day balance reporting, wire transfers, foreign exchange wire transfers, book transfers, check management, information reporting and e-mail, via either dial-up or the World Wide Web.
Adrian Danescu, senior vice president and chief information officer, Manufacturer's Bank, comments: "Through our CMConnectCash offering, we are one of just a few banks in California to offer Web-based corporate cash management services which include the initiation of wire transfers."