Global industrial chemical producer, Celanese, has chosen Deutsche Bank’s newly expanded Global Cash Concentration (GCC) product capabilities to help manage its US dollar liquidity. Celanese wanted to concentrate US dollars effectively from its various European entities into its US entity on a same-day basis by centrally managing its US dollar position. Celanese will also be expanding its cash management activities to include the same-day movement of its positions from its Asia Pacific office into its European, then US-based operations. By enrolling in Deutsche Bank’s GCC service, Celanese was provided with an automated mechanism that enables its business line to distribute its US dollar liquidity in a manner that meets its US dollar financing needs as they arise between regions. In addition to concentrating funds from East to West, GCC initiates cover funding from the target accounts in the event that Asia Pacific and/or European source accounts end the day in a deficit balance.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more