DBS Bank, one of the largest financial services groups in Asia, has implemented Sterling Managed File Transfer (MFT) to optimise its cash management services. The new software enabled DBS Bank to create a single file transfer platform, the DBS Secured Gateway, which provides automated cash management services to corporate customers and accelerates new customer onboarding for the bank.
DBS needed to consolidate its multiple centres of file transfer activity to a single platform and achieve seamless integration of back office systems for both inbound and outbound channels. With its wide range of communication protocols and dynamic, flexible data transmission service, Sterling MFT enabled DBS to build a flexible, reliable and secure platform that allows corporate customers to enjoy more flexible, seamless and automated straight-through processing (STP) cash management services. The Sterling Commerce solution also has reduced corporate risk and increased security by delivering a high level of data integrity and confidentiality.
“Our new capabilities ensure that DBS’ corporate customers are empowered with new services and options that give them greater control, while providing us with a higher level of channel visibility,” said Felix Chan, senior vice president, global transaction services, DBS Bank.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.