Italian banking group Intesa Sanpaolo has developed a new liquidity management solution, the international zero balance cash pooling “same date booking”, allowing higher levels of global treasury optimisation.
Designed to “actively support its clients in an increasing global and competitive market”, the bank’s new service promises to improves the cross-border zero balancing cash pooling accounting cycle, so that the giro nettings of the whole structure will be booked at end of each day; both respecting the value date and overcoming the traditional one day delay.
“Intesa Sanpaolo is committed to invest in new liquidity management solutions to support clients rationalising their working capital,” said Stefano Favale, head of global transaction banking at Intesa Sanpaolo Group. “This new service will allow treasurers to enhance visibility, forecasting and control of the global net liquidity position at group level, and to simplify general ledger settlements.”