Group Settlement Center (GSC) is a total fund management solution for group corporations provided via the Industrial Bank's online cooperate banking platform. The service helps group corporations to enhance the utilization rate of their funds, reduce financial expenditure, realize the centralized management of group funds and guarantee fund safety.
GSC offers eight major functions for its clients, namely:
I. Centralized Management of Group Accounts
With the account management function of online corporate banking, group headquarters can realize centralized management over all the Industrial Bank accounts of its member organizations. Group headquarters can check the balance and transaction history of all such accounts at any time via the settlement center provided in the online banking service, allowing it to monitor and manage the funds in the accounts of its member organizations on a real time basis.
II. Centralized Management of Group Funds
The Industrial Bank provides group corporations with flexible and customizable aggregation modes such as entry-by-entry fund aggregation, real-time aggregation, balance aggregation and fixed-amount management. With these functions, group headquarters may aggregate funds from the accounts of its member organizations based on various fund aggregation strategies and combine all funds in a group headquarter account for centralized utilization. This function enables unified deployment, unified allocation and unified use of all funds available.
III. Allocation of Funds in Group Accounts
With this function, group headquarters may allocate funds between member organizations and the group at will, and will be able to control the funds to be independently used by member organizations and the actual use of such funds with much greater ease.
IV. Access Control of Financial Staff in the Group
An access control module enables the group to control the online banking access of the financial staff of the group or member organizations with ease. This ensures the appropriate allocation of access in online banking among member organizations.
V. Budget Management Module
With this module, group corporations may lay out fund use budgets at various times for its member organizations. The online banking service will provide real-time monitoring of funds used by such organizations based on the budget specified by clients and effectively constrain overspending.
VI. Interest Calculation Module
GSC can separately calculate the interest for funds which have been aggregated from member organizations to group headquarters. Group headquarters can allocate interest based on the interest calculation results to ensure member earnings from funds retained at headquarters. This measure can also raise the willingness of members to deposit their funds at headquarters.
VII. Reconciliation Function
This module of GSC not only provides an actual journal for all accounts, but separately provides a running journal between member organizations and the GSC as well as a fund settlement journal between member organizations and external companies. This function ensures the accuracy of account checking from multiple perspectives.
VIII. Inter-bank Fund Management
The Industrial Bank provides a dedicated inter-bank fund management platform for group clients. Using this platform, a group client can realize a range of operations for all of its commercial bank accounts, such as centralized monitoring, inter-bank funds aggregation, budget management, internal credit extension management, internal loan management and internal fund clearing. This module renders comprehensive cash management services for group clients.