This service domain orchestrates a cash management and accounting services facility typically used by corporations to support additional cash management features over and above the standard facilities of current and savings accounts
Examples of Use
A corporate customer implements a positive pay facility with the bank to reduce the exposure to check fraud for the checks it writes.
Cash Management and Account Services combines the capabilities of a cash management account that in itself combines features of a current account and a savings account, with additional cash management services. The supporting features that make up the facility (checks/cheques, standing orders, debit cards, phone and on-line banking services etc. can be extended to include other features such as positive pay and reverse positive pay for check processing.
Related Business Scenarios
Core Business Object
- Set-up cash management and accounting service
- Issue cards, check-books for an account
- Process deposits and withdrawals
- Handle standing orders and direct debits
- Process fees and apply interest charges
- Provide balance/statements and reports
- Process cash management services such a positive pay