The Royal Bank of Scotland (RBS) have launched a new multi-bank solution in China that enables corporates to manage accounts from Chinese banks through a single global electronic banking platform. This new solution can support up to 18 banks’ interfaces in China, in a network of over 100,000 branches across the country. 

Third party bank reporting, payment initiation and sweeping

The solution enables timely third party bank account transaction reporting, payment initiation and automated cross-bank sweeping. It means corporate treasurers in China will no longer have to manage multiple e-banking platforms, often incompatible with each other, from various local Chinese banks on an individual basis.

The solution is fully integrated into RBS's existing electronic banking platforms including Access Online, host-to-host channel Access Direct and SWIFT Corporate Access. The solution also supports various industrial standard payment formats including SAP, XML, and EDI. This enables corporate treasury and ERP system to use a single standard file to generate payment instruction over their various bank accounts with those local Chinese banks.

MNC benefits

RBS believe that for MNCs there are benefits to corporate treasury on many fronts, including simplification and risk mitigation. Users will achieve improved cash visibility through a timely consolidated view of their cash positions at the various local banks. Manfred Schmoelz, Head of Global Transaction Services, Asia Pacific, commented, "Our solution will be applicable to MNCs and large corporations who already maintain multiple local bank relationships for various reasons, particularly for clients looking for a single e-banking channel to view and manage scattered local bank accounts in China."