Best Business Ecosystem Initiative goes to Kotak Mahindra Bank for its ‘Fusion Cash Management’
The winning initiative was introduced as a new cash management platform that leverages API technology. It integrates different ERPs, file formats, and reverse management information system to meet all types of corporate payout needs.
Through multiple channels, the platform offers almost all payment methods such as real-time gross settlement and national electronic funds transfer, a feature that is unprecedented in the local market. The improved UI/UX and real time transaction processing contributed to a 14 x increase in processing speed. Due to the platform implementation, cash management volumes and fees grew exponentially by 20% and 37%, respectively.
For its market-leading capabilities and competitive edge over peers, delivering at 14% higher speed for transaction processing, the award for Best Business Ecosystem Initiative goes to Kotak Mahindra Bank for its ‘Fusion Cash Management’.