Linked to the accounts of 17 banks in Vietnam to check the funds in real-time.
Enables efficient and transparent fund management by controlling account-specific verification authority, automated preparation of vault cash reports, and connection to ERP systems.
Set for release in Vietnam and then in Japan, China, the UK, and Cambodia this year with the aim of expanding to Thailand and Indonesia in 2024.
WeMBA is a solution that has tailored “Branch,” a fund management system for mid-sized and large companies in Korea developed by Webcash, to the Vietnamese market. It enables real-time verification of the fund status by linking with accounts of 17 banks in Vietnam and improves the efficiency and transparency of fund management through account authority management by user or department.
WeMBA lifts the burden of financial management in business sites in Vietnam. It automatically generates reports on vault cash with one click and sends them to the CEOs and CFOs. Customers can automate tasks through quick and easy reporting and keep track of their finances regardless of time and place.
WeMBA also supports smooth interoperation with customers’ internal systems (ERP). The solution provides account transaction details and balances retrieved from financial institutions in the form of an Excel file so that they can be easily entered into the ERP system, thereby shortening the working time of responsible staff and reducing errors.
Currently, the number of banks in Vietnam linked with WeMBA is 17, which will increase to 25 by December 2023. Webcash aims to link WeMBA with all banks in Vietnam by 2024.
Lee Sil-kwon, CEO of Webcash Global, said, “The launch of ‘WeMBA’ in Vietnam is expected to strengthen the competitiveness of local companies through work process innovation and cost reduction based on automation. Webcash will continue to thoroughly analyze the needs of overseas companies and enhance its customer-oriented services.”
Following the launch in Vietnam, Webcash Global is set to roll out WeMBA in Japan, England, China, and Cambodia where Webcash Group’s local corporations have been established by the second half of 2023, and make a foray into the Thai and Indonesian markets in 2024.