Fundtech (Nasdaq:FNDT), a market leader in global transaction banking solutions, today announced that Robinsons Savings Bank, a leading bank in the Philippines, has implemented Global CASHplus (GCP), Fundtech's new generation transaction banking product that combines comprehensive global cash management with the full range of automated financial supply chain features.
Robinsons Savings Bank, a division of JG Summit group, a diverse conglomerate, will be offering traditional cash management services like collections, payments and liquidity management, integrated with a comprehensive set of structured products supporting open account trade. With the growth in open account trade, integrating these services with traditional cash management services will be a competitive advantage for banks.
Robinsons Savings Bank has developed a strong revenue model around providing financial supply chain solutions to its customers. GCP will enable the bank to streamline transaction processing and document management to handle a large number of small value open account trade transactions. Operational efficiency will be achieved through self-service financing options, flexible reporting, automated asset creation and tracking. Corporations will benefit from an unprecedented level of global financial control, enabling them to optimize their working capital while managing risk.
Mr. Raynold Gerongay, President and CEO at The Robinsons Savings Bank said: "Fundtech's GCP will enable us to offer our corporate clients the tools they need to optimize their working capital by combining traditional cash management with financial supply chain features. GCP will help us achieve both cost and operational efficiency in addition to enhanced customer satisfaction levels."
Sanjay Dalmia, Managing Director of Fundtech India, Ltd. said: "Global CASHplus offers an easy-to-use, yet sophisticated suite of financial tools to manage all aspects of corporate electronic banking and financial supply chain transactions. Our solution enables online view of the entire payment and financing process and helps improve working capital efficiency."