24 February 2009 Company Announcements

 

Robinsons Savings Bank runs Fundtech's Global CASHplus

Robinsons Savings Bank has implemented Global CASHplus, Fundtech's new transaction banking product that tackles global cash management with the 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 could be a competitive advantage for the bank.

Robinsons Savings Bank has developed a revenue model around providing financial supply chain solutions to its customers. GCP could enable the bank to streamline transaction processing and document management to handle a large number of small value open account trade transactions. It is hoped that through self-service financing options, flexible reporting, automated asset creation and tracking, operational efficiency will be achieved. Corporations should then benefit from a level of global financial control, enabling them to optimise their working capital while managing risk.

Mr. Raynold Gerongay, president and chief executive at The Robinsons Savings Bank said: "Fundtech's GCP will enable us to offer our corporate clients the tools they need to optimise 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."