Hitachi Capital UK has implemented Reval’s software-as-a-service (SaaS) delivery model for integrated treasury and risk management (TRM) to automate its treasury processes.
“We are particularly pleased with our new hedge accounting set up,” said Jeremy Johnson, Hitachi Capital’s group treasurer. “Processes that previously took a minimum of two days and with uncertain results can now be completed in less than an hour at period end, and with near zero profit and loss (P&L) volatility in the future.”
Hitachi Capital UK is a wholly-owned subsidiary of Hitachi Capital of Japan, which provides lease and invoice finance to businesses, retail point-of-sale (POS) finance, as well as vehicle fleet management and contract hire. Hitachi Capital UK additionally provides consumer loans through its internet-based Savvi brand and specialist driver instructor vehicle contract hire through Hitachi Capital Driving Instructor Centre.
Forecasts for 2016-2020 place Africa as the second fastest growing region in the world (at a compound annual growth rate (CAGR) of 4.3%), just below Emerging Asia.
Data from Swift’s latest RMB tracker shows exceptional growth in RMB adoption in the United Arab Emirates (UAE), witnessing a 210.8% growth in payments value of the currency since August 2014, albeit from a low base.
Sentiment in the financial services sector deteriorated in the three months to September, as firms digested the challenges of lower interest rates and the uncertainty caused by the vote to leave the European Union (EU), according to the latest CBI/PwC Financial Services Survey.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.