Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY) and Santander UK, today announced the roll out of Santander UK’s international cash management platform as part of the bank’s ongoing digital transformation programme.
Santander Global Connect which is a brand-new cash management platform. It is designed to support the international growth plans for Santander’s corporate and commercial customers. The first release of the platform is currently in pilot, provides customers with access to view liquidity held globally.
Subsequent releases will enable self-service digital capabilities to manage, control, and mitigate cash and business risk. And that is all from a single portal. Santander Global Connect will be powered by the Finacle Cash Management Suite that includes the Finacle Digital Engagement Hub, Finacle Online Banking, Finacle Payments and Finacle Liquidity Management solutions. Key capabilities of the new platform will include a centralised multi-bank information portal with a consolidated view of cash positions, an account and transaction level reporting for both domestic and international activities and country level visibility of foreign currency accounts held, and banks used by customers .
Sanat Rao, Chief Business Officer & Global Head, Infosys Finacle, said that with the increased volatility and complexity of the global business environment, corporate treasurers need to monitor and manage their liquidity positions and working capital in real-time. They are excited to extend our partnership with Santander UK to enable this for their corporate and commercial banking customers. The new platform will power innovative global cash and liquidity management services, along with much-needed flexibility, openness, and self-serve capabilities.
Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking Solution, on average, enjoy 7.2% points lower costs-to-income ratio than others.