Rabobank live with CoCoNet finance portal

Source: CoCoNet

As from January 2007 Rabobank has gone live with CoCoNet's MULTIVERSA IFP - International Finance Portal - which is a core application of Rabobank’s recently launched Rabo Financial Logistics Portal (RFLP) for corporate customers.

In 2006, Rabobank launched the RFLP to provide customers with access to a wide range of liquidity management, risk management, trade finance and treasury tools. With this new integrated web portal Rabobank can serve clients regardless of their geographical place, which is an important step in Rabobank's further international development.

"We recognised a strong market need for integrated, internet-based financial logistic solutions. As a result of which we required a short time to market. Thanks to CoCoNet's turnkey product MULTIVERSA IFP we have reached this objective," says Ruud Nijs, Head of Rabobank Financial Logistics.

CoCoNet's Managing Director Ulrich Lischewski adds "We appreciated the professional and co-operative atmosphere in the project. It has been a pleasure to work with Rabobank and we are proud that we could contribute to the project's success."

MULTIVERSA IFP is an off-the-shelf portal solution which is available in multiple country versions including the Netherlands. This is where Rabobank's headquarter is situated. In parallel, thanks to its innovative technical approach, the portal provides a wide range of possibilities for customisation, enhancing usability to meet specific customer needs.

As a consequence, MULTIVERSA IFP enabled Rabobank to launch a sophisticated web portal with customised design and functional scope and a significantly shorter time to market compared to building a completely new technical environment. Furthermore, with the selection of a standard product, Rabobank dramatically cuts maintenance costs and all standard product enhancements will automatically be available for its customers.

Innovative functionality for corporate customers

Based on MULTIVERSA IFP, the Rabo Financial Logistics Portal provides a wide range of payments, reporting and cash management functions for all target groups - from small and medium-sized enterprises up to large corporates with transaction volumes exceeding 500,000 payments per transaction.

The portal has been designed in accordance with Rabobank's corporate visual identity and supports both Dutch and international payment formats such as ClieOp03, BTL91 and SWIFT MT101. It furthermore includes the SWIFT MT940 format for reporting and additional Rabobank-specific formats.

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