Track: Global Financial Management

Eliminate Cross-Border Payments With an In-House Bank Solution

Monday, October 20, 2008
8:30 a.m. - 9:30 a.m.
Room: 409 AB

This session will outline the benefits and implementation process of an in-house bank, which enables multinational corporations to make cross-border payments in foreign countries from its local bank accounts. We will discuss how creating an in-house bank can minimize the number of worldwide bank accounts and reduce costly bank transaction fees associated with cross-border payments.

Speakers:

• Michael E. Broderick, CTP
  Assistant Treasurer
  Herbalife International

• Holger Fortnagel
  Director
  IAM Treasury Services LLC

Objectives

• Define the benefits of an in-house bank model
• Describe the prerequisites to establish an in-house bank
• Review the limitations of an in-house bank
• Explain the processes of creating an in-house bank

Pre-Requisites

• Global cash management
• Basic payment processing

Take-Aways

• Checklist for establishing an in-house bank

CPA Field of Study: MAS