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Misys Global Cash Pooling

The benefits of effective cash management have never been more relevant; and, in today's market, corporate treasurers are taking more of a global outlook and demanding that their banks provide cash pooling products on an international basis.

Misys Global Cash Pooling represents the latest generation of Misys' award-winning cash management suite. The system delivers all the features that banks need to be able to offer advanced cash pooling services to corporations extremely cost-effectively.

Overview

Designed to co-exist with other back office systems, the solution consists of a single 'engine' to provide the database, calculations and processing for notional pooling and sweeping across multiple countries, currencies, banks and time zones.

A high level of automation and flexibility enables banks to improve operational efficiency and offer innovative pooling products in multiple regulatory jurisdictions. Furthermore, all information related to the cash pool can be delivered to corporate treasurers online.

Ultimately, Misys Global Cash Pooling enables banks to gain competitive advantage from customer service. Enhanced customer service helps to attract and retain corporate customers, increasing the 'share of wallet' of those customers and developing new revenue streams.

Technical Specifications

The key challenge for cash pooling is obtaining up-to-date information on accounts, irrespective of where they are held. Misys Global Cash Pooling uses standard SWIFT statement messages (MT940, MT941 and MT942) to maintain an accurate picture of balances and movements on accounts within the cash pool - either within a single bank or across different banks.

The quality of these messages, however, varies considerably from bank to bank. A rules-based approach, based on the sender of the message or individual account, is therefore used to determine how the messages should be processed. In addition, the system automatically resolves any issues relating to SWIFT messages, through extensive validation and repair functions.

The system then automatically calculates what needs to be done; this may be automated transfers for sweeping, or interest calculations and settlements for notional pooling. SWIFT MT101 and MT103 messages are used to initiate the payments needed to make sweeps. Accuracy is ensured through the automatic reconciliation of expected movements against the SWIFT MT94x statements.

Through Misys Cash Portal  or another eBanking platform, banks can give corporate treasurers online access to all information relating to the cash pool, enabling them to optimize the management of their cash.

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