Tao Zhu Gong Awards

HIGHLY COMMENDED Best Cash Management Ant Financial Services Group Co., Ltd. (Ant Financial) of Zhe Jiang Province Judges’ Comments Ant Financial has achieved capital management of different currencies and entities by integrating its cross-border and domestic cash pools, thus laying a solid foundation for its global strategy and coordinated development. Company Profile Ant Financial Services Group Co., Ltd. of Zheijang Province(hereinafter referred to as Ant Financial) was founded in 2O14. With the mission of “bringing more equal opportunities for the world”, Ant Financial, through technological innovation, is committed to the development of an open and shared credit system and financial services platform for global consumers and small and micro businesses. Challenges Alipay is the third-party payment platform developed by Ant Financial. However, its major business in China is not limited to payments, as it has become an open platform that includes payments, lifestyle services, civil services, social networking, wealth management, insurance, public welfare and several other areas and industries. Alipay has been steadily expanding globally which has brought new challenges for its treasury management. “Ant Financial has a young and competent treasury and finance team. We hope that through technology we can reduce manual processes in our treasury management” said Xu Rong, Director of Ant Financial Treasury. Her team hopes to achieve cross-regional management and concentration of the Group’s cash while establishing a capital management system that features financial efficiency and smart operational management. Solution After consulting with Citi, Ant Financial decided to implement a solution which integrates its local and cross-border cash pools. Alipay has multiple entities in the Asia-Pacific region which involve a large number of accounts and currencies, that posed huge challenges for cash concentration. To overcome these difficulties, Ant Financial and Citi decided to set up both local and cross-border cash pools and integrate them. The currency in the cross-border cash pool is the US dollar. Supported by Alipay Hong Kong, the redundant capital in USD from more than 1O subsidiaries’ accounts in Singapore and Hong Kong is concentrated in the cross- border cash pool. Local cash pools were set up in Hong Kong and Singapore, using HKD and SGD respectively. Both the local and cross-border cash pools are automatic, two-way cash pools. Under these pools, end-of-day target balances and intraday overdraft limits are set based on the capital needs of member companies. The concentrated capital is managed by the Group’s treasury department, therefore improving capital use efficiency. Local interest optimization arrangements can be applied to the funds in the pools in order to improve the return on capital. Automatic cash concentration and distribution in the cash pools not only reduces operating risks but also lowers the cost of capital allocation. Best practice To implement this solution, Ant Financial established a workgroup headed by treasury experts. Citi also designated a chief coordinator for this solution. Employees from Ant Financial and Citi cooperated effectively, keeping detailed records of their daily work and regularly distributing summaries of their meetings. Although this solution involved more than 1O companies and dozens of accounts, it took less than two months from negotiation of legal documents to eventual implementation, making it a best practice in the industry. Xu Rong expressed, “When we choose our partner bank, we considered whether it can provide comprehensive services, manage its own internal systems well and provide after- sale services.” BENEFITS FOR THE COMPANY • Ant Financial achieved cash concentration and improved its management of different currencies and entities by integrating cross-border and local cash pools. • The two-way automatic capital transfer eliminated manual processes, made sure that funds can be used more efficiently, and reduced operational costs. • Ant Financial has successfully improved its operational efficiency, which has played an important role in its global strategy and overall coordination. 重点推荐企业 最佳现金管理奖 浙江蚂蚁小微金融服务集团股份 有限公司 评委点评 结合跨境本地资金池,实现对不同币种 不同实体的资金管控,为企业推进全球 战略、整体协同夯实基础 企业简介 浙江蚂蚁小微金融服务集团股份有限公 司(以下简称“蚂蚁金服”),成立于 2O14年。蚂蚁金服以“为世界带来更 多平等的机会”为使命,致力于通过科 技创新能力,搭建一个开放、共享的信 用体系和金融服务平台,为全球消费者 和小微企业提供安全、便捷的普惠金融 服务。 挑战 支付宝,是蚂蚁金服旗下的第三方支付 平台third-party payment platform。 如今,它在中国境内涉及的领域早已超 出支付,而是一个集支付、生活服务、 政务服务、理财、保险、公益等多个场 景与行业的开放性平台。而在境外,支 付宝的国际化进程也在稳步推进,为蚂 蚁金服财资管理带来了新的挑战。 “蚂蚁(金服)有一个年轻精干的财资 队伍,我们希望能更多地通过技术化, 来减少财资管理上的人工干预,”蚂蚁 金服的财资总监徐蓉说。她的团队希望 能实现集团自有资金跨地区的现金管理 和归集,并建立一个覆盖区域广泛、资 金融通高效、操作管理智能的集团自有 资金管理体系。 解决方案 在咨询了花旗银行后,蚂蚁金服决定实 施集本地和跨境资金池在内的组合方 案。支付宝目前在亚太区有多个实体, 涉及账户数量和币种都不少,归集并非 易事。针对这一难点,企业与合作银行 决定,在设立跨境资金池的同时,设立 本地资金池,并将这些资金池定制在一 起。跨国资金池的币种为美金,是以在 香港的支付宝香港公司为牵头企业,归 集了集团在新加坡和香港的十多家企业 的美金账户冗余资金。本地资金池分别 位于香港和新加坡,涉及币种为港币和 新加坡。 无论跨国的还是本地的资金池都是全自 动的双向资金池,且根据每个成员企业 的实际需求设置了不同的日末目标余额 end-of-day target balance以及日间透 支额度,来支持每家企业的资金需求。 而集中的资金由集团财资统一管理,优 化了资金使用效率,且集中的资金可以 各自在当地适用各自的提高资金收益的 利息优化方案,提高资金收益。通过全 自动资金池的资金归集和下放不仅降低 了操作风险,也降低了集团调拨资金的 成本。 最佳实践 为实施该方案,企业成立了专项组,由 财资专家担任项目负责人;花旗银行也 委派了全球项目总协调人。双方人员制 定了详细的工作日志,会议纪要定期通 报,充分体现高效的工作要求。虽然项 目涉及十几个公司,几十个帐户,但从 法律文件磋商到最终系统实施也就花费 了不到两个月的时间,堪称业界合作的 最佳实践。徐蓉说:“在挑选合作银行 时,我们看中的是对方的综合服务能 力、自身系统的能力和售后持续服务的 能力。” 企业获益 • 结合跨境以及本地资金池,解决了对不同币种不同实体的资金管控需求, 实现了资金可视、集中; • 双向且全自动地资金调拨,省去人工干预,提高资金效率并节省了成本; • 提高运营效率,为公司的全球战略、 整体协同发挥了重要作用。 Xu Rong Director, Ant Financial Treasury 蚂蚁金服财务总监徐蓉说

RkJQdWJsaXNoZXIy MjE5MzU5