Recent Trends in Cash Management System

Abstract

Cash Management System is an integral part of any financial and banking operation both from customer's and solution provider's point of view. The advent of modern technologies especially internet and web2.0 have made a significant impact on cash management system replacing the paper checks first by digitized images and then to the full fledged web-based system. With increasing globalization of business, geographical boundaries are shrinking and the need for integration of cash and information flows in various business transactions are felt both at the client's as well as bank's end. The thesis presents a review on the changing trends in cash management system over the years as new sophisticated technologies had hit the market with promises of easy and convenient operations. The likely trend of market expectation of the bank based on the technology advancements, both from the internet and mobile computing, as well as, societal factors in the future has been demonstrated. Furthermore, the benefits of such changing trends from both the client and the bank point of view have been highlighted. In the last chapter cash management system at OCBC is discussed and the key software named velocity@ocbc used by the bank for efficient cash management is discussed and demonstrated.