Finloop Finance Technology announced the launch of “CashPro”, an instant liquidity management solution for both retail and institutional clients in Hong Kong, which taps into the liquidity platform1 of BNY Investments. BNY Investments’ liquidity platform is a money market fund (MMF) investment portal for its clients, powered by LiquidityDirect.
Finloop’s existing T+0 money market fund solution has facilitated transactions amounting to hundreds of billions of US dollars, underscoring its reliability and operational efficiency. Building on this foundation, the enhanced “CashPro” solution challenges the traditional T+1 processing restrictions and further streamlines fund processing by enabling same-day interest accrual for subscriptions and supporting hourly redemption.
Through BNY Investments’ liquidity platform, Finloop can access a comprehensive liquidity network, including cash movements and transfer, as well as advanced data and analytics to augment its liquidity management solutions for retail and institutional clients. “CashPro” is expected to help clients optimize cash management through data, which significantly enhances capital flexibility and liquidity efficiency.
Cheng Kang, chair of Finloop, said in a statement: “BNY Investments’ liquidity platform has been pivotal in transforming ‘CashPro’ into a game changing solution for our clients. Finloop ‘CashPro’ currently services USD holdings and will expand to other currencies, including EUR, GBP, HKD, CNH, and JPY, in the near future.”
Doni Shamsuddin, head of Asia Pacific for BNY Investments, said in a statement: “By offering a diverse selection of money market funds in various currencies, our platform is uniquely equipped to support financial institutions in meeting their clients’ liquidity requirements.”