Netherlands-based Rabobank has contracted with Nordic IT vendor TietoEnator for the supply and implementation of a Web-based corporate cash management platform.
The five-year agreement covers implementation, software licence and application management, including 24/7 application support. The platform comprises of the vendor's standard cash management module from the TietoEnator's Core Banking Suite.
TietoEnator says the new system will enable Rabobank to offer a range of complex cash management services to corporate customers via the Web, including cross-border capabilities, sweeping and topping, zero balancing, inter company lending, balance netting, notional pooling and corporate deposit.
Commenting on the deal, Ben Christiaanse at Rabobank says the extensive functionality of the TietoEnator's cash management platform best suited the bank's requirements and Rabobank expects a high return on our investment in the system.