Infosys Finacle enables Santander UK to roll out international cash management platform
Infosys Finacle and Santander UK, as part of the bank’s ongoing digital transformation program, have rolled out Santander Global Connect — an international cash management platform.
Santander Global Connect is designed for supporting the global growth plans for the corporate and commercial customers of Santander UK. The maiden release of the platform, which is presently in pilot, offers customers access to see liquidity held globally.
Subsequent releases of Santander Global Connect will provide self-service digital capabilities for handling, controlling, and mitigating cash and business risk, all from a unified portal.
The international cash management platform is by the Finacle Cash Management Suite, which includes the Finacle Digital Engagement Hub, Finacle Liquidity Management solutions, Finacle Online Banking, and Finacle Payments.
John Carroll — Head of International and Transactional Banking at Santander UK, said, “This new platform will allow us to support UK businesses of all sizes to seamlessly manage their international transaction and cash management banking needs. It will also help us to develop and grow relationships with existing customers and support the international growth needs of new customers. There has never been a more important and exciting time for businesses to consider international expansion. By collaborating with Finacle, we’re able to offer our customers a crucial tool to support both them and our own international banking strategy now and in the future.”
Some of the main capabilities of Santander Global Connect are a centralized multi-bank information portal for providing a consolidated view of cash positions, account and transaction level reporting for domestic as well as international activities, and enabling customers to get a country level visibility of foreign currency accounts held, and banks used by them.
Sanat Rao — Chief Business Officer and Global Head of Infosys Finacle said: “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. We 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.”
Infosys Finacle is a part of EdgeVerve Systems, which in turn is a fully-owned subsidiary of Indian IT giant Infosys.