April 13, the Industrial Bank held a promotional event for cash management and online corporate banking in Shanghai to formally launch its new brand for cash management services - “Golden Cube”. The brand fully integrates the products and services of two major brands of the Industrial Bank, namely Wise Fortune and the CIB Online Five-star Navigation, in an effort to provide companies with tailor-made integrated cash management solutions. Some 200 representatives from various companies were present at the event. A number of these companies signed service contracts with the bank straight away, which made for an enthralling atmosphere.
The name “Golden Cube” was chosen by the Industrial Bank for its cash management brand. It implies that a large variety of products and top services can effectively help enterprises to manage their cash resources, improve cash flows, enhance cash utilization and cut financial costs and risks. It allows for the retaining and increment of funds whilst maintaining the normal and sound cash flow.
Compared to similar products in the market, the “Golden Cube” cash management solution has two major advantages. The first is a big product family. The Golden Cube includes four major service solutions, namely liquidity management, investment and financing management, risk control, and bank-corporate express that is directly connected to the financial software of companies. These solutions cover most competitive corporate banking and e-banking products, such as group customer fund management, virtual sub-account, inter-bank fund management, e-commerce, legal person account overdraft, etc. Moreover, six industry standard solutions are provided to suit the different characteristics of the six major industries of public finance, manufacturing, services, comprehensive groups, financial companies and e-commerce. The second major advantage is flexible and efficient services. Attributable to the Five-star Navigation, China's first e-banking service brand and service standard, the “Golden Cube” is able to meet customers' needs and provide complete, professional, effective and safe cash management services by means of a personalized and customized development platform and service teams operating at multiple levels from headquarters to sub-branches.
According to industry experts, with the economic prospects for 2009 being grim, enhancing fund management efficiency, reducing financial costs and promoting operation management standards are enterprises inner need. The Industrial Bank has been quick to sense these demands, and has moved quickly to launch the “Golden Cube” corporate cash management solution so that the multiple demands of enterprises can be addressed in an all-around manner. So far, the Industrial Bank has over 36,000 cash management customers who made total online banking transactions of RMB 16 trillion in 2008. Cash management services are not only a basic and core product of the bank designed to satisfy corporate demands, but have also become one of the bank's more competitive products.