Santander chooses The B2 Groups Multi-Bank Integrator automated banking platform for SCF

The move aims to further enhance Santander`s supply chain finance solution for major corporate clients.

Multi-Bank, a 5th generation platform based on two decades of experience and launched at the start of 2016, enables corporates to automatically connect with their banks for processing of payments and statements, providing a single point of access and cash management portal. The fully managed Multi-Bank service already boasts an ever-growing global clientele of subscriber institutions, including major banks, multi-national corporates and insurers, as well as a rapidly expanding community of partner banks connected to the platform.

Outgoing payments and incoming statements are processed automatically via secure links with the banks to deliver fast and tangible benefits, including; automation of incoming statements, “smart” reconciliation of credit and debit payments, real-time enterprise-wide cash visibility, automation of complex business processes such as supply-chain finance, cash pooling and sweeping, and controlled automation of outgoing accounts payable, payroll and treasury payments via a real-time portal. Multi-Bank also fully integrates with most ERP and TMS platforms, to provide true end-to-end processing, with associated cost savings through reduced back-office headcount.

The solution is live and in use with one of Santander’s key clients and there are plans to roll out a number of other household-name corporates across the B2 platform in the New Year.