Scotiabank Launches Integrated Online Cash Management Tool
Scotiabank’s Global Transaction Banking (GTB) division launched ScotiaGlobal electronic banking, an integrated, online cash management tool at the AFP Annual Conference in LA last week. In addition, the bank also announced the availability of a new integrated payments service through ScotiaConnect electronic banking. ScotiaGlobal offers GTB clients who operate their business across the NAFTA region access to real-time information on their Scotiabank accounts in Canada, the US and Mexico. Through a single sign-on to ScotiaGlobal, clients can also access their ScotiaConnect and Scotia En Linea services to manage their electronic cash management and payments across the region.
“Treasurers really want one view of all of their payments and need an integrated global cash management solution that operates on a single platform,” said Alice Eastman, senior vice-president, cash management and payment services, global transaction banking at Scotiabank, in an interview with gtnews. “Treasurers are asking for simplicity and for bank partners to really support them in their business in order to manage their cash flows as effectively as possible.”
Scotiabank GTB also launched Integrated Payments through ScotiaConnect. The service streamlines the process of multiple collections and disbursements, which the bank says will improve cash flow and reduce expenses. Integrated Payments also allows clients to view, approve and delete electronic fund transfers (EFTs) and automated clearing house (ACH) payments online through ScotiaConnect.
“Most treasurers operate within complex organisations with multiple points of payment, and the ability to have approvals for multiple transaction types in an integrated platform will create a more efficient payables function,” affirmed Eastman. “Clients will be able restrict approvals on certain payments and view who has touched any payment. This provides centralised control in a format agnostic way.”