Delega is a treasury management application that allows companies to give all their banks access to the information needed to create, remove and maintain signatory records. Companies can finally access accurate signatory records and treasurers can now comply with audit requirements quickly and accurately. And it’s a great improvement on what often happens today: a delay of weeks until all details are received, then more time spent chasing up inaccurate information.
Delega’s tool harnesses state-of-the-art, secure Cloud technology by creating a bank-agnostic single source of truth for a list of current authorised signatories. The tool also acts as a secure repository for supporting documentation, allowing corporates to distribute the documents they require to their banks without the need to provide the same documentation over and over.
Why does Delega work for both corporates and banks?
We believe that industry problems need industry solutions: that’s why Delega is harnessing the power of co-creation to build a solution that works for all parties. Since February 2020, Delega has brought together a selection of multinational banks and large corporates in a single working group with the mission of defining a common objective and creating well-established operational standards. Delega – as the fintech – plays the role of ‘honest broker’ between corporates and banks.