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Redefining liquidity with virtual accounts for corporations and their subsidiaries

Timely tracking and managing cash flows in complex business projects can be challenging, especially when both mother company and subsidiaries are involved. This is why SEB has developed its Virtual Cash Management solution – a highly flexible tool for setting up and handling corporate accounts.

Virtual Cash Management allows you to set up customised, virtual account structures, without any of the lead time and paperwork connected to opening new accounts with a bank.

Johan Hansen, Product Manager at SEB
Johan Hansen, Product Manager at SEB

“It’s ideal for getting a better overview of complex projects, handling your incoming and outgoing business. You can build a tailor-made structure with as many sub-accounts as you need. For example, each department can operate a virtual account, all of which are connected to a single master account. This arrangement enables companies to uphold a unified cash position.” Johan Hansen, Product Manager at SEB, says.

The first version of Virtual Cash Management was launched a few years ago and has recently been equipped with a much-anticipated new feature: the possibility to include more than one entity in the same account structure.  

“This enables you to have both a mother company and its subsidiaries within the same set-up. It is something that many of our clients have been asking for since it is within these flows that much of the complexity can occur”, Johan Hansen says.

All in all, the solution makes easier cash and liquidity management, especially when operating in a multi-entity setup. It is now available in all SEB's home markets: Denmark, Finland, Germany, Norway, United Kingdom, and Sweden.

Christian Daberkow, Senior Advisor Cash Management at SEB Germany
Christian Daberkow, Senior Advisor Cash Management at SEB Germany

“With the new possibility to include several legal entities in one virtual account structure, the number of physical bank accounts can be decreased, which is something many treasury departments strive to do. Payments can be done from virtual bank accounts with their own IBAN, while the liquidity source for all transactions is the physical master account. From a liquidity perspective, it is comparable with an instant cash pooling.” says Christian Daberkow, Senior Advisor Cash Management at SEB Germany.