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Santander UK and Infosys Finacle Launch New International Cash Management Platform

Posted On: 2021-07-21 10:18:58 (Time Zone: UTC)


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, is a brand-new cash management platform designed to support the international growth plans for Santander's corporate and commercial customers. The first release of the platform, which 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, all from a single portal. Client feedback will form a critical part of future enhancements, to ensure the global cash management platform meets and exceeds client requirements.

Highlights of the first release:

- 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

- Account and transaction level reporting for both domestic and international activities

- Country level visibility of foreign currency accounts held, and banks used by customers

John Carroll, Head of International and Transactional Banking, 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."

Sanat Rao, Chief Business Officer & Global Head, 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."

Shares of INFOSYS LTD. was last trading in BSE at Rs.1549.7 as compared to the previous close of Rs. 1541.8. The total number of shares traded during the day was 310798 in over 14204 trades.

The stock hit an intraday high of Rs. 1557.5 and intraday low of 1538. The net turnover during the day was Rs. 480427765.


Source: Equity Bulls

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