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Infosys Finacle to power Santander UKs international cash management system

Wednesday 27 June 2018 13:03 CET | News

Infosys Finacle and Santander UK have announced the launch of a new inter-bank cash management system for its corporate customers.

Santander will introduce an inter-bank cash management portal to provide its corporate customers a fully-integrated solution with resilient, secure cash management services accessible through any device of their choice. This will enable greater personalization options and the ability to rapidly introduce new product innovations for customers.

Santander will use Finacle’s digital offering which includes Finacle Online Banking, Omnichannel Hub, Payment Solution and Liquidity Management Solution to help achieve this, and to better support its customers.

Highlights

  • With Finacle, Santander UK will be able to strengthen its multi-channel cash management, cash forecasting and payment services

  • Finacle’s Liquidity Management Solution (LMS) will enable multi-bank reporting and cash management functionalities including sweeping, target balancing and notional pooling

  • The Finacle solution suite will provide an aggregated view of customer balances across multiple accounts and a view of liquidity positions across Santander’s global banking group

  • The design of the offering will help accelerate further payment innovations and manage changes easily and on demand

  • Further, corporate treasurers will be empowered to design liquidity structures to achieve the required level of visibility and control over funds. The open APIs will also enable corporates to embed cash management services within their own ERP solutions

  • The Finacle solution suite will be made available in a cloud hosted environment ensuring quick time to market, upgrading underlying infrastructure and allowing efficiency and scalability.

Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. It has brought real competition to the UK, through its innovative products for retail customers and relationship banking model for UK SMEs. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.

Banco Santander is a retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful market share in 10 core countries in Europe and the Americas.

Finacle is the digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights–driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts. Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain.


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Keywords: Infosys Finacle, Santander UK, cash management, corporate customers
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Countries: World