Wall Street Systems, Inc. has launched a plan that will allow banks and other financial institutions to monitor their global cash positions in real-time.
Cash Management Factory Solution would rival current manual systems for tracking global cash flows, and would reduce labour costs.
“With increasing competitiveness and globalization in financial markets, having complete transparency and real time control of cash can dramatically improve banks’ working capital management,” said Mike Thrower, marketing director of the company.
Functions of the Java-based application include overriding manual adjustments of daily flow of cash reconciliations and exceptions handling, and maintaining a short-term funding process and multi-level target balancing.
It automatically creates supporting wires to move funds across streamline balances.
Thrower predicts the applications “can deliver immediate return on investment for major firms that are seeking to improve operational efficiency in the cash management area.”