Bankable's Virtual Ledger Manager is a cloud based virtual account solution applicable on top of any bank account enabling enhanced cash management for global corporates. It is a multi-bank solution capable of processing standardised and proprietary data formats from multiple banks.
Virtual Accounts pave the way for an entirely new operating model for global cash management. They offer corporates the same advantages as extensive multi-bank account hierarchies and eliminate the costs of opening and managing physical accounts. This results in a rationalisation of the number of accounts operated by corporates, increased centralisation and reduced dependency on expensive liquidity management products, such as notional pooling.
Virtual Accounts also transform payments processing by enabling transactions to be initiated from virtual accounts. Payment instructions are automatically generated from the underlying central bank account.
Rationalisation of Bank Accounts
Fewer bank accounts for global activities with unlimited virtual accounts without compromising transactional operating requirements
Automatic cash concentration on omnibus accounts eliminating the need for cash pooling strategies and physically moving money
Fewer bank accounts to administer and lower financing costs through inter-company lending
Payment-on-behalf-of / Collection-on-behalf-of
Centralisation of payables and collections management with dedicated virtual accounts
Maintain continuous Straight Through Processing with highest rates of matching leaving little unreconciled funds
Low cost, Real-time control of transactions and reporting
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Get in touch with us to discuss launching or integrating innovative payment solutions including virtual accounts, virtual and plastic payment card programmes, e-wallets and full digital banking solution (for both transaction and retail banks).Let’s connect