ABN AMROâs Multibank Cash Concentration service provides the capability to automatically sweep excess funds from designated accounts to a central concentration account or accounts on a daily basis, enabling BCA to save time, enhance control and visibility of its balances and improve returns on otherwise idle cash.
BCA will use this multicurrency capability to control balances in USD, EUR, JPY, HKD, SGD, AUD and GBP.
Said Mike Hampson, Global Head of Financial Institutions, Transaction Banking, ABN AMRO: âABN AMRO is a market leader in liquidity management tools for corporate clients. We felt some of the same tools and techniques could be valuable to financial institutions. We are delighted to be working with BCA to put this innovative solution in place.â