Santander Bank today unveiled its global Santander Cash Nexus solution for Commercial Banking and Corporate and Investment Banking clients in North America.
This new platform offers clients a comprehensive suite of global connectivity solutions and provides access to local payment initiation and information reporting services in 15 markets around the world via a single point of entry.
"Providing our clients with the ability to control their payments and view their accounts in the various countries where they do business – all from a single online platform – is a game changer and a major efficiency accelerator," said Ken Deveaux, managing director and head of Transaction Banking at Santander Bank in the U.S. "We believe Santander Cash Nexus will be an important treasury management tool that will enhance our clients' banking experience and provide them with opportunities to be far more productive in managing their businesses and overseeing their financial commitments."
Santander Cash Nexus offers clients the ability to simplify and automate payment processing both globally and locally, achieving higher rates of machine-to-machine, straight through processing using a wide variety of payment types.
Additionally Santander Cash Nexus enables customers to have broad visibility and control over their cash flows, accessible through a highly secure, robust Information Center, Portal and Mobile App. It features automatic reconciliation of account activities for both Santander and accounts that may be held at other financial institutions. The portal is also highly customizable and can display, initiate and authorize transactions securely from any location in six languages.
Santander continues to invest in practical solutions that allow clients to digitize and automate transacting to reduce costs, increase efficiencies and improve controls to gain a competitive edge. Santander Cash Nexus is another example of Santander's ongoing commitment to deliver innovative digital banking products to its customers. It follows the successful launch of Santander Treasury Link to digitize commercial transacting, and last November Santander introduced Santander Enterprise Payment Link to help businesses simplify and digitize payment processing.