Best transaction bank for international cash management 2019
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Best transaction bank for international cash management 2019

Bank of China

Since 2009, Bank of China has invested nearly Rmb600 million ($87 million) in building a domestic and foreign currency, global cash-management platform that connects the banks’ enterprise clients to the world of finance, giving them not only cash management abilities but also access to the global Swift remittance network, and multi-bank cash management systems.

The Domestic Cash Management Platform+ system offers clients easy access to cash and finance functions at home and abroad.

So far, BoC has installed a Swift direct connection system in 18 countries and regions.

Since 2018, the bank has been promoting six cash management services. For example, Global Vision Pass helps clients be fully compliant with the latest Chinese regulations and guidelines on offshore remittances and cash management. So far, 15 Chinese conglomerates have signed up for the service.

Both Ways Vision Pass helps customers to open and gain access to a wide range of domestic and foreign capital channels. At present, the global cash management platform has launched 487 cross-border two-way renminbi funds pools and 254 centralized cross-border foreign currency working capital pools.

Smart Bookkeeping Pass provides physical account classification and accounting functions for those enterprise clients in the services and administrative industries; so far, 4,644 enterprises have signed up.

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