IDBI Bank upgrades to Fundtech's Global CASHplus solution
India's IDBI Bank has gone live on both the Payments and Receivables modules of Global CASHplus, Fundtech's new generation cash management and financial supply chain product.
According to Fundtech, the implementation will enable IDBI's corporate clients to access advanced cash flow planning and working capital optimization applications.
Global CASHplus will help IDBI Bank centralize its payments and collections processing for its corporate customers, including salary payments and invoice payments.
The new system is expected to enhance many of the bank's collections services, including guaranteed arrangements, check collections, post-dated check collections, correspondent bank management, among others.
Fundtech India managing director Sanjay Dalmia said Global CASHplus offers an easy-to-use, yet sophisticated suite of financial tools to manage all aspects of corporate electronic banking and financial supply chain transactions.
"We are proud to work with a leading bank like IDBI on their strategic transaction banking initiatives and wish them every success," Dalmia said.
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