DBS launch “world first” treasury and cash management simulation tool
(6 October 2017 – Singapore) DBS Bank has announced the launch of the "world’s first" online treasury and cash management simulation tool for CFOs and corporate treasurers.
The bank says its corporate customers can simulate various bank and corporate solutions on DBS Treasury Prism at no cost, and review potential opportunities that will maximise value for their enterprise.
According to DBS as CFOs and corporate treasurers manage multiple accounts with varying currencies and transaction flows across multiple countries, and from different providers, the process can become “time-consuming, unproductive and tedious.”
DBS says its Treasury Prism was custom-built to address challenges highlighted by CFOs and corporate treasurers, giving them the ability to independently experiment with cash and liquidity management structures and analyse the relative benefits and costs.
The bank-agnostic platform takes into account the regulatory and tax environment in the markets where the company operates in, and offers immediate and contextual insights to help them understand the implications that each solution has on the business.
John Laurens, DBS’ Head of Global Transaction Services said, “CFOs and corporate treasurers increasingly come to DBS for digital advisory services and to co-create digital business solutions with their financial and commercial operations. The nature of these digital engagements have elevated the partnership between transaction bankers and treasury and finance professionals well beyond the conventional bank-customer interaction. DBS Treasury Prism is a product of innovation and customer-centred digital engagement. Finance and treasury professionals have therefore shaped the platform through ideation, development and beta testing stages and will continue to drive the agile development of DBS Treasury Prism.”
According to East & Partners Asia’s Asia Transaction Banking Program, which interviews the top 1000 firms by revenue, across Asia (excl. Japan), DBS ranks fourth among its peers for “integrated e-Banking service satisfaction, with a 1.48 rating (where 1=satisfied, 5=dissatisfied). The market average rating for this increasingly important metric has increased to 1.44 from 1.47 six months prior.