State Bank of India Goes Live on Cash@Will
State Bank of India (SBI) has gone live on cash management product across corporate accounts group divisions at more than 300 branches.
The Bank has selected Nucleus Software Export Limited’s Nucleus cash management product Cash@Will (payments and collection) for the project.
Cash@Wi!l, a cash management product for managing cash flow and implementing long-term flexible solutions, will help the Bank in managing its government clients better. It will help SBI improve revenue, maximize profits, optimize costs, and establish efficient management systems to accelerate growth, according to a statement.
SBI is now using Cash@Will for drafts, Income-Tax refund orders (ITRO), multi-city cheque (MCC) and collection services. The implementation was done in a phased manner where payments and collections modules implemented initially were subsequently replaced by the newer version of Cash@Will. The solution will power the cash management product of SBI, which handles businesses like ITRO, SBI Rights Issue.
Vishnu R. Dusad, CEO and MD, Nucleus Software Exports Limited, said, "As an IPR-led company, our synergistic approach of aligning our intellectual capital with business requirement helps our clients improve their operational efficiencies and customer value."
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