CMB implemented an in-house cash management solution in order to facilitate improved liquidity management, easier access to cash flow data, and enhanced risk management capabilities.

Overview

Banks today are offering single digital platforms to meet cash management needs globally. CMB (China Merchants Bank) was the first Chinese bank to offer SWIFT connectivity via SCORE for off-shore & cross-border cash management.​

China Merchants Bank is a Chinese bank based in Shenzhen, Guangdong, China. It was established in 1987 and is the country’s first share-holding commercial bank that is entirely owned by corporate legal entities.

CMB has one branch in Hong Kong and over five hundred in the Chinese mainland. It received a federal licence to establish a branch in New York City in November 2007 as part of a strategy for international expansion.

Implementation Process

The global cash management system was created with group organisations’ need for international cash management in mind.

The solution, CBS-TT, sends transaction orders to and receives feedback from major banks both domestically and internationally through direct bank-enterprise links, swift, and other channels. This allows for the realisation of cross-bank account management, payment transaction management, capital risk control, investment and financing management, smart analysis, and decision-making support. CBS-TT is connected to ERP or enterprise financial systems inside of businesses, enabling integrated system operation and data interaction.

Benefits Achieved

• The following are the benefits of the solution:
• Removes the risk of fragmented processes and info for clients
• Allows straight-through processing for maximum security and minimum user intervention.
• Enables customers to monitor account balances in real-time
• Provides a single integrated platform for all cash management activities worldwide
• Allows liquidity management across company subsidiaries
• Removes the need to establish individual connectivity channels

Conclusion

Through this implementation, CMB was able to offer working capital management services on a global scale, convenient global banking channels for opening and managing accounts, managing collection and payments, and enabling cash pools, investment, and finance.

Key Facts

• Bank: China Merchants Bank
• Headquarters: China
• Founded: 1987
• Supplier: China Merchants Bank (in-house)