Fundtech, the global transaction banking solutions provider, has been selected by Australia and New Zealand Banking Group (ANZ) for its cash management solution in Asia-Pacific. Under the mandate, ANZ will implement Fundtech’s Global Cashplus cash management solution in 11 countries in the region. In addition, ANZ will integrate Global Cashplus with its payments platform Global Payplus, also from Fundtech.
“Global Cashplus will enable us to provide our multinational corporate clients with the most advanced cash management services available,” said Nigel Dobson, global head of payments and cash management at ANZ. “They will benefit by having a consolidated view of their available funds across the region and will have the convenience of managing their cash through a single system.” According to Dobson, having a single provider for these solutions helps make integration easier and will result in higher levels of straight through processing.
Global Cashplus is a modular cash management system and Fundtech says its solution is specifically designed for multi-country deployment, and combines a complete cash and liquidity management system with extensive supply chain functionality.
“We are delighted that ANZ has selected Global Cashplus for their multi-country cash management system,” said Gil Gadot, managing director at Fundtech for Asia. “Integrating it with Global Payplus will provide the bank with a competitive edge because it enables them to offer their multinational corporate clients a single cash management system that will improve liquidity management along with tightly integrated payments capabilities.”
Fundtech serves more than 1,000 clients globally with its payments systems that include wire transfers, automated clearing house origination, cross-border payments and remittance software and services. It also offers supply chain applications such as electronic invoice presentment and supply chain financing as well as cash management systems for multinational corporations and small and medium-size enterprises.