More NewsABN AMRO Awarded CLS Mandate by FirstRand Bank

ABN AMRO Awarded CLS Mandate by FirstRand Bank

FirstRand Bank has awarded ABN AMRO with a mandate for third and fourth party CLS services in South Africa. The mandate covers FirstRand’s operations in South Africa as well as its African subsidiaries and will see FirstRand become one of the first banks in Africa to go live for third-party CLS services. The two banks have also signed a partnership covering the provision of private-labelled fourth-party CLS services for banks across Africa. Commenting on the news, Sam Zavatti, SEVP, Financial Institutions and Public Sector at ABN AMRO said: ‘With the addition of the Rand to the growing list of CLS currencies, there is now an even greater imperative for South African organisations to adopt this risk-free settlement system.’

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

4w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

6m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

6m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha