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Oracle Banking Virtual Account Management
Optimize, Centralize and Automate
Banks can enable corporates to manage complex global account structures, control capital, centralize cash, and automate reconciliation.
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Enable corporates to define complex account hierarchies.
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Enhance visibility and control over capital.
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Automate reconciliation process.
- Overview
- Features
Manage Receivables and Payables in Real Time
- Eliminate the movement of cash across different accounts and reduce transaction costs
- Enable centralized payment management
- Support for POBO/COBO structures
- Support account level restrictions
- Provide statements and reports at virtual account level
Enable Efficient Corporate Liquidity Management
- Support multientity hierarchical virtual account structures
- Improve monitoring of liquidity positions with balances concentrated in fewer accounts
- Reduce dependency on notional pooling
- Offer interest calculation for virtual accounts
- Enable interest redistribution to sub-accounts
- Provide corporate-specified internal credit limits
Enable Seamless Reconciliation
- Provide visibility to remitter information on incoming payments
- Automate tracking of remitter details and reduce manual tracking of invoice payments
- Provide the ability to reflect remitter information in statements for faster reconciliation
- Enable better cash flow forecasting
- Increase efficiency of working capital management with rapid reconciliation
Leverage Virtual Identifier
- Enable corporates to setup their own rules for payment routing to suit their business needs
- Support fully automated receivables processing without the complexity of maintaining multiple accounts
- Gain the flexibility to maintain different rules for different corporates
- Enable easy identification of the paying customer and the purpose of payments
- Improve visibility into cash positions for corporates
Leverage Oracle’s Preintegrated Capabilities
- Gain comprehensive support for accounts and operations to service multiple lines of business
- Run single centralized liquidity management solution for corporates
- Offer real-time payments capabilities and achieve faster reconciliation
- Leverage ready to deploy RESTful APIs and thrive in a hyper connected economy