In response to the globalization of trade and the financial supply chain, corporations have expanded their domestic and international bank relationships. The benefits of spreading cash across banks are obvious—minimizing currency exchange and interest charges, and maximizing short-term investment opportunities—but additional bank relationships also make for operational complexity. Treasury and AP staffs are required to learn and conform to individual banks’ varying message standards as well as manually consolidate payment and confirmation data across individual bank workstations. Accurate cash reporting is a challenge to say the least.
C-Series™ Wires is a low-cost, Web-based solution that automates domestic and international funds transfers and includes integrated confirmation and reporting capabilities. Using C-Series Wires, organizations can accelerate approval and payment processes, lower risk and access a consolidated view of daily and historical funds transfer activities. Integration with SWIFT Alliance Lite ensures message standardization and secure connectivity to more than 8,500 financial institutions in 209 countries.
With C-Series Wires organizations can: