Source: CashTech
CashTech Solutions, a Fundtech Ltd. company (NASDAQ: FNDT) and a global provider of cash management solutions, today announced that TMB Bank, of Thailand, has purchased its cash management solution.
TMB Bank will use CashTech's TransactCashIn to provide services in the areas of collections, receivables and liquidity management. TransactCashIn will enable the bank to attract new clients and gain a greater share of the business of their existing client base.
TransactCashIn Collections enables banks to offer better cash flow planning and optimal utilization of funds for their corporate customers. Aimed at providing benefits to both the bank and its customers, TransactCashIn Liquidity Management Module can execute priority-based instructions, control the movement of funds across accounts with differential interest rates, compute interest earnings and allocate earnings/loss to participating accounts.
"CashTech currently has a strong presence in Thailand, and our relationship with TMB Bank serves to strengthen our commitment there. We look forward to working closely with TMB and helping them to achieve their growth objectives," commented RN Iyer, Managing Director of CashTech
Khun Silawat Santivisat, Head of Cash Management, TMB Bank, said, "We are confident that this partnership will help us achieve the ambitious growth targets that we have set for ourselves. With strong domain expertise and a functionally strong product, we look forward to working closely with CashTech to meet the complex demands of our customers."