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Thursday May 20, 05:38
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BONY To Use Internet To Speed Exception Items
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The Bank of New York is enabling its treasury management clients to process exception items on a same day basis and to access archived material by Internet-enabling its lockbox services for greater efficiency. BONY has for some time offered Internet-based banking services, including a cash management solution, Cash-Register Plus, which is used by 25,000 clients worldwide to initiate ACH payments, wire transfers, collections, letters of credit, or to retrieve check images. The bank’s Internet services have enabled it to “reinvigorate” its check and paper-based cash management services, according to SVP, Eric D Kamback.
Corporate clients using BONY’s treasury management services, which are connected to over 100 securities markets worldwide, can optimize their cash flow and liquidity processes while engaging in international eCommerce transactions. Major global banks such as HSBC, Deutsche Bank and Barclays Bank are also leveraging Internet technologies to extend their treasury management services to a wider audience from a single platform. Lockbox service providers who offer Internet-based cash management services in particular stand to benefit from improving their customers’ cash flow and overall efficiency.
(Business Wire)
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