BMO's new global treasury management services include key disbursement and concentration services
The company's clients in Latin America and the Caribbean use CitiDirect[R] Online Banking to initiate local and cross-border payments and trade transactions, as well as access netting, collections, liquidity management, investments, multibank cash concentration services
, insurance letters of credit, information reporting and continuous linked settlement (CLS).
eLockbox concentration services
combine hundreds of electronic sources into a single posting file and a single deposit while eliminating posting errors and exceptions.
5 million households in eight Northeastern states, has extended a multi-year contract for a full suite of online payment and concentration services
for its retail banking and consumer lending operations.
NACHA PAYMENTS 2005, SAN ANTONIO, April 12 /PRNewswire/ -- While cash concentration is fundamental to the effective management of working capital, new TowerGroup research finds a combination of factors driving a major decline in cash concentration services
-- with significant implications for US financial institutions.
Maya Online made their initial commitment to Verso's Clarent technology because it enabled them to support both prepaid and wholesale concentration services
with a single, easy-to-implement platform.
These include corporations using deposit concentration services
, businesses receiving high-value checks, companies receiving checks at nonpayment locations, and businesses using Internet banks.
By nearly doubling the capacity of its existing Clarent-based VoIP infrastructure, Macro will be able to offer IP clearinghouse and traffic concentration services
to customers who want to reach the lucrative Mexico and Latin American long distance markets.
To provide a full suite of returned check management options, National City RCMS combines Return Check Concentration services
- where all returned checks are centralized at National City regardless of where they were originally deposited - and check conversion to an ACH debit, as well as image and web-enabled access and delivery to all items.
Corporate clients and financial institutions use CitiDirect(R) Online Banking to initiate payment and trade transactions, as well as access netting, collections, liquidity management and multibank cash concentration services
ReadyNet WORKS Plus includes the above but also adds direct deposit capabilities, wire transfers, cash concentration services
, ACH and electronic data interchange (EDI).
ASX-1000 ATM backbone switches currently in use by Cable & Wireless USA will be redeployed at each location to perform router concentration services
that will further enhance the network's overall performance and reliability.