Abu Dhabi Commercial Bank (ADCB) has announced the implementation of a cash management mandate with Atlantis, The Palm, a major hotel resort at Palm Jumeirah in Dubai.

The innovative cash management mandate will enhance operational efficiencies at Atlantis, a statement said.

The mandate will provide a robust system to synergise existing accounts receivables and payables.

ADCB is also implementing its proprietary Host to Host solution at Atlantis, which will enable it to further streamline the current payment and reconciliation process.

The innovative “Host to Host” solution allows a secure and seamless transfer of all payment instructions and account statements.

Collin Fraser, head of Wholesale Banking at ADCB said: “ADCB is delighted to have been mandated to deliver a state-of-the-art Cash Management solution for Atlantis The Palm, a key relationship partner.

“With this solution, Atlantis is able to fully automate and streamline transaction processing and reconciliation activities using a straight-through file link-up between our electronic channels, and Atlantis' systems. As such Atlantis benefits significantly in terms of efficiency and will experience consistent service at minimal error rates.”

“Such automated implementations are typically initially quite complex integration exercises. It is a tribute to the excellent teamwork and leadership between Atlantis and ADCB that this implementation was done in record time and Atlantis is now fully benefiting from a world-class solution which delivers capability commensurate with an organisation of Atlantis' pedigree,” he added.

Conor Lawler, vice president - Finance at Atlantis The Palm, said: “Taking cash management to the next level, we are delighted to be at the leading edge in partnership with ADCB and look forward to more innovation and efficiencies in the future.” – TradeArabia News Service