OREANDA-NEWS. January 25, 2013. In the next half of 2009, ICBC was the first bank in China to roll out cash management service across the world. Since then the service has grown very fast. In 2012, ICBC secured 1,100 new global cash management customers who opened 2435 accounts. By year-end 2012, ICBC built partnership with 3332 customers in global cash management service with 8,550 accounts in total, ranking No. 1 among all Chinese banks. Meanwhile, ICBC's "one-stop" global cash management service is serving a great number of multinational corporations around the world spanning 50+ countries/territories, driving the healthy growth of China "go global" companies, reported the press-centre of ICBC. 

As related by an ICBC executive, ICBC global cash management service is a portfolio of products that come with convenient services and value-loaded benefits covering opening of global A/C, payment authorization, MT940 statement, account enquiry, overseas staff service, centralized payment and cash pool. Especially the China-Africa cross-border cash management platform and the Africa service solutions, the first financial product jointly launched by ICBC and The Standard Bank of South Africa to serve the cross-border cash management between China and African countries and create a new model for Chinese and African countries to manage cash across the borders directly.

ICBC's global cash management platform and a full spectrum of cash management services cover the administration of accounts across the world, centralized collections and payments, cash pool in home and foreign currencies, investment and financing, and risk management. All these services allow multinational companies to transfer funds across different countries and banks, and manage all accounts around the world, collections/payments as well as risks. By bringing accounts from around the world all under one roof to achieve sound financial management, multinational companies mitigate risk of operating business in different countries and improve management effectively.

To enhance customer services, ICBC ramps up overseas branch network. Further, the Asia Pacific Cash Management Center, China-Africa cash management platform, together with new cash management centers in Europe, America, ICBC has set up a 3-tier service architecture comprising "Head Office - regional centers - branches in China and overseas" spanning Asia Pacific, Africa, Europe and America. Moreover, ICBC expands cash management service worldwide by working with 30+ foreign banks to provide cash management services in major financial and economic centers and regions packed with overseas offices of Chinese companies.