Standard Bank has chosen Funtech’s global cash management solution, Global Cashplus, as its new global liquidity management system.
The implementation of the system will allow the bank’s customers to have full visibility into their accounts and transactions, manage real-time cross-border liquidity and forecast cash flows.
Jerry Pearce, Standard Bank’s global product head of transactional products and services, corporate and investment banking, says: “Liquidity optimisation and cash forecasting are increasingly important to corporate treasury groups faced with a need to manage working capital and optimise surplus funds – often across borders and currencies.”
“As the speed of the transactions accelerates, so does the need for accurate and timely information,” adds Peter Reynolds, Fundtech’s managing director of Emea sales. “Thinly-stretched treasury departments struggle to identify liquidity positions at the enterprise-wide and real-time levels.”
The bank will implement Global Cashplus first in South Africa and then initiate a full roll out of the solution.