Insights - Banking Efficiencies Through a Regional Approach
Source: Asia Insurance Review | Oct 2006
Traditionally,
multinational insurance companies have allowed their in-country Asia Pacific
business units to operate their cash management programs in an independent,
decentralised manner. Local entities choose their own banking partners, adopt
unique internal processes and conduct daily cash management tasks with limited
coordination between entities or with their regional office. This is beginning
to change as companies consider a variety of strategies to standardise and regionalise
their cash management program in order to enhance control, reduce costs, and
achieve a greater level of visibility and automation throughout their operations.
Mr Andrew Fitzgerald, Vice President, Asia Pacific Cash Management Sales,
Global Transaction Services, Citigroup Corporate and Investment Banking looks
at this growing trend.
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