The B2 Group said that its Multi-Bank Integrator automated banking platform for corporate cash and treasury management is to integrate with several African banks.
Commenting on the move, the provider of financial systems integration solutions said that although individual African banks often offer excellent on-line or file based payments integration and reporting services, comprehensive treasury automation with multiple banks in multiple countries has traditionally been a challenge for companies.
“A roll-out to banks in a number of different African countries planned by the B2 Group (themselves no newcomers to the African transaction banking landscape), commencing in the second quarter of 2016, will help overcome that challenge,” it added.
“Multi-Bank, which offers powerful cash management capability by integrating seamlessly with treasury management systems (TMS) or enterprise resource planning (ERP) systems, provides automatic payments and statements processing with major banks in Europe.
“Multi-Bank users will now also be able to access African banks to gain a more complete picture of their treasury operations.”
Early adopter participating African banks have now been confirmed for linkage to Multi-Bank from next month, and B2 staff will be available to outline what the service can offer companies operating in Africa at ‘EuroFinance Effective Finance & Treasury in Africa’ conference in London on March 8.
“At B2 we have serviced the African market for a number of years now, on-boarding household name corporates for our banking clients,” said Phil Boland, chief executive officer (CEO), The B2 Group. “That experience has been key to the way we have adapted Multi-Bank for the particular banking integration needs of African companies.
“This is in turn good news for those companies’ corporate treasurers, who, regardless of how many banks they deal with or where those banks are, can now enjoy simplified banking independence, automation and control.”
A survey conducted by Capital One suggests around five in six plan to implement new treasury management products and services in the coming year.
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