Banks and Vendors Show New Cash Management Products

By Ferris, Tom | American Banker, November 13, 1985 | Go to article overview

Banks and Vendors Show New Cash Management Products


Ferris, Tom, American Banker


NEW ORLEANS -- The annual convention of the National Corporate Cash Management Association gives banks and vendors a showcase for waving the flag and unveiling products. This year's conference, being held here this week, is no exception.

Among the announcements were an exposure-monitoring service by Manufacturers Hanover Trust Co., applications for international treasury management by Chase Manhattan Bank, and an electronic collection product by the First National Bank of Maryland.

MHT PRODUCTS: Manufacturers' exposure reporting service enables customers to monitor commitments to the bank on a global basis. Users can receieve daily reports on future commitments for term loans, foreign-exchange transactions, and letters of credit.

"This information is particularly valuable to companies with decentralized operations who need to keep track of local country borrowings and investments," Manufacturers said. "What often came to headquarters on an infrequent operations now can come in consolidated form" from the bank.

Two microcomputer-based products were also introduced. One enables customers to transmit applications, amendments, and inquiries concerning letters of credit to the New York-based bank. With the other service, corporations can initiate corporate trade payments that will flow through the automated clearing house network. Both products are offered via IBM desktop computers.

CHASE SOFTWARE: Chase unveiled two software packages, either of which can be used alone or as a part of the bank's MicroStation treasury management system, which provides transactional and informational services via a personal computers.

One of the services, called FX Contract Manager, enables a multinational firm to track and manage foreign-exchange deals. The product automatically generates confiromation letters and can calculate a gain-and-loss report on hundreds of foreign-exchange contracts in multiple currencies within minutes, Chase said.

The second product, called the Multilateral Settlement System, is a micro-based netting service for monitoring intracompany currency exposure.

ELECTRONC LOCKBOX: Corporations that now receive mailed check remittances from wholesale customers would love instead to electronically withdraw the payments from the bank accounts of those customers. …

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