Moving to expand the services it offers corporations overseas, First Chicago NBD Corp. has joined Inter-Bank Online System, a cash management consortium led by Banco Santander of Spain and Royal Bank of Scotland.

The Chicago-based banking company becomes the second in the United States to join Ibos, which offers its members a super-charged version of typical correspondent bank relationships. Corporate customers of Ibos- affiliated banks are referred to other member banks when dealing across borders.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.