The B2 Group, a provider of financial systems integration solutions, has said that its automated banking platform for corporate cash and treasury management, known as Multi-Bank Integrator, will integrate with several African banks.
The technology vendor said that the move will help African banks overcome the challenge of comprehensive treasury automation with multiple banks in multiple countries.
Multi-Bank facilitates cash management by integrating seamlessly with TMS or ERP systems, and offers automatic payments and statements processing with major banks in Europe. The latest move will allow Multi-Bank users to access African banks to gain a more complete picture of their treasury operations.
The service can be operated on-site or accessed as a fully hosted service, can communicate securely across any network, can complement a company’s or bank’s existing payments systems, as well as requires minimal IT infrastructure.
It is expected to be rolled out to banks in different countries of Africa from the second quarter of 2016.
The B2 Group CEO Phil Boland said: "At B2 we have serviced the African market for a number of years now, on-boarding household name corporates for our banking clients. That experience has been key to the way we have adapted Multi-Bank for the particular banking integration needs of African companies.
"This is in turn good news for those companies’ corporate treasurers, who, regardless of how many banks they deal with or where those banks are, can now enjoy simplified banking independence, automation and control. And the combination of our local African partners and easily accessed business and technical expertise at B2’s centres of excellence means a powerful, cost-effective and easy to use service."