Coronavirus: Pressure on cash managers to support corporate clients
Global cash managers are having to move fast and adapt solutions to support clients through the Covid-19 crisis.
Cash managers have always had to act quickly to support corporate clients’ access to liquidity and credit. But now more than ever, clients are turning to bank partners for quick, sometimes emergency, support as companies struggle to stay afloat during the coronavirus pandemic.
For large companies that have strong, long-term relationships with their financial partners, the banks will pull out all the stops, confident that they will be rewarded with loyalty once the economy stabilizes.
“We have provided multi-million financing packages to some of our corporate clients in less than 12 hours,” says Ole Matthiessen, head of cash management at Deutsche Bank.
“This is something we have been able to do quickly – not only because we have the liquidity to do so but because we know our clients well, understand their business and once things return to normal we are confident that they will reward us with their loyalty,” he says.