While most other areas of securities services have experienced sharp downturns this year, one area is booming: cash management, The Financial Times reports.
Cash management services still have growth rates of 10% to 25%.
“Managing cash is quickly moving from being a cost centre to a profit centre with companies keen to extract liquidity to help boost revenues. This cash is also being used as a funding source because liquidity has become a much more scarce commodity,” says Anthony Nappi, Asia head of Citi Global Transaction Services.