The Dutch banking company ABN Amro Holding NV has agreed to use software from SAP AG to manage client data for its global cash management services.
The Walldorf, Germany, vendor said last week that ABN Amro would use SAP for Banking to keep track of multinational corporate customers' deposits at various business units within the banking company. The software provides a single view of all those accounts.
ABN Amro offers a white-label version of its cash management services that other banking companies can offer to their corporate customers.
Thomas Balgheim, a senior vice president for financial services with SAP, said in a press release that its software would help ABN Amro standardize its cash management operations and lead "the industry in moving to a single account management platform."
