Standard bank selects Fundtech for corporate payments

Source: Fundtech

Fundtech, a market leader in global transaction banking solutions, today announces that Standard Bank has selected Fundtech’s cash management solution, Global CASHplus, to provide real-time liquidity management, cash flow forecasting, and balance reporting services to its corporate customers.

It will give the bank the ability to provide its corporate customers with improved liquidity through full visibility into accounts and transactions, as well as the ability to forecast and act on this information.

Standard Bank, a leading transaction bank in Africa, sought to strengthen its competitiveness in the marketplace by implementing a global liquidity management system that supports the delivery of integrated real-time services regardless of where the customer is domiciled or accounts are held. Standard Bank selected Fundtech to execute this vision based in part on Fundtech’s experience executing complex cash management and liquidity projects with large Pan-African and global banks. The bank will implement the solution first in South Africa and then through other countries in which it operates.

“Standard Bank is committed to being the leading corporate and investment bank in, for, and across Africa,” says Mr. Jerry Pearce, Standard Bank’s Global Product Head of Transactional Products and Services, Corporate and Investment Banking. “Liquidity optimization and cash forecasting are increasingly important to corporate treasury groups faced with a need to manage working capital and optimize surplus funds—often across borders and currencies. Regardless of location or where they conduct business, Standard Bank is able to provide its customers with a seamless treasury experience.”

“As the speed of the transactions accelerates, so does the need for accurate and timely information,” says Peter Reynolds, Fundtech’s Managing Director, EMEA Sales. “Thinly-stretched treasury departments struggle to identify liquidity positions at the enterprise-wide and real-time levels. Financial institutions that can offer solutions to their corporate customers will benefit by becoming a valuable partner, gaining a competitive advantage, and increasing revenues.”

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