The ISP has Italian market with nearly 6,000 branches and an international presence with 1,800 branches across 13 countries in Central, Eastern Europe and the Mediterranean Basin.
With the deployment of Fundtech’s solution, the ISP Group will have the capability to offer Swift-based, cross-border cash concentration and pooling services to its clients.
Cross border cash pooling using Global CASHplus will be adopted across ISP banks in Italy; its foreign branches; subsidiaries; and IBOS (International Banking – One Solution) banks – an international banking alliance focused on providing corporate customers with international cash management solutions.
Fundtech said that the global liquidity management solutions help provide corporates with a consolidated view of their accounts across banks, allowing them to automate their cash flows domestically and cross-border after factoring in operational and regulatory constraints, thus enabling the banks to provide better transparency in managing liquidity risk across the entire corporation with operational and cost efficiencies.
Global CASHplus’ multi-country functionality will enable the Italian bank to offer its corporate clients advanced cross-border transaction capability and working capital visibility, including flexible multi-currency and multi-country cash pooling (real and notional), on demand liquidity transfer, and priority-based instruction execution.
Global CASHplus will also enable ISP to offer intercompany lending and investment creation support for corporate transfer pricing.
