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Santander Bank adds Cash Nexus platform to US commercial banking solutions

Santander Bank has unveiled its global Cash Nexus solution for Commercial Banking and Corporate and Investment Banking clients in North America. The platform offers clients a suite of global connectivity solutions and provides access to local payment initiation and information reporting services in 15 markets around the world via a single point of entry.

"Providing our clients with the ability to control their payments and view their accounts in the various countries where they do business - all from a single online platform - is a game changer and a major efficiency accelerator," said Ken Deveaux, managing director and head of Transaction Banking at Santander Bank in the US. "We believe Santander Cash Nexus will be an important treasury management tool that will enhance our clients' banking experience and provide them with opportunities to be far more productive in managing their businesses and overseeing their financial commitments."

Santander Cash Nexus offers clients the ability to simplify and automate payment processing both globally and locally, achieving higher rates of machine-to-machine, straight-through processing using a wide variety of payment types. 

Additionally the solution is designed to enable customers to have broad visibility and control over their cash flows, accessible through a secure information centre, portal and mobile app. It features automatic reconciliation of account activities for both Santander and accounts that may be held at other financial institutions. The portal is also customisable and can display, initiate and authorise transactions securely from any location in six languages.

Santander says that it continues to invest in practical solutions that allow clients to digitise and automate transacting to reduce costs, increase efficiencies and improve controls to gain a competitive edge. The Cash Nexus news follows the launch of Santander Treasury Link to digitise commercial transacting, and last November the  introduction of Santander Enterprise Payment Link to help businesses simplify and digitise payment processing.

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