Kotak Mahindra Bank Implements Fundtech Global CASHplus Solution

Fundtech, a provider of transaction banking solutions, has announced that Kotak Mahindra Bank has gone live with Global CASHplus’ Collections and Payments modules. Kotak’s corporate clients will now have access to advanced cash flow planning and working capital optimisation applications.

The Global CASHplus modules will help Kotak Bank to centralise its payments and collections processing for its corporate customers, including salary payments, invoice payments, dividend and warrant payments. The new system will offer enhancements to many of the bank’s collections services, including guaranteed arrangements, cheque collections, post-dated cheque collections, correspondent bank management and others. Corporate clients can now use a Web-enabled interface that integrates all services into a single window.

Vikram Sud, chief operating officer, Kotak Mahindra group, said, “We selected Fundtech’s Global CASHplus product because it provides both a comprehensive platform for payments and collections, as well as an innovative financial supply chain functionality that will help our clients gain greater visibility into their working capital needs.”

More from Biztech

Future Group - Reliance Retail Deal approved by CCI RBI ban on cryptocurrencies takes effect; prohibition could force investors to tap the black market

Sanjay Dalmia, managing director, Fundtech India, said, “We are delighted to partner with Kotak Mahindra Bank in their strategy to provide their clients with a comprehensive transaction banking platform. Global CASHplus offers an easy-to-use suite of financial tools to manage all aspects of corporate electronic banking and financial supply chain transactions.”