SunGard today announced that Cr'edit Lyonnais, Group Cr'edit Agricole, has joined SunGard's AvantGard-ETX network.
AvantGard-ETX provides Cr'edit Lyonnais secure, real-time cash management, treasury and execution services, including trading, borrowing and investing. Using AvantGard-ETX, Credit Lyonnais is able to seamlessly connect to a network of member financial institutions for straight-through processing of transactions and a holistic view of global cash positions.
Credit Lyonnais is SunGard's first AvantGard-ETX customer in France. AvantGard-ETX will provide Credit Lyonnais with Web-based connectivity via a single window to all AvantGard-ETX participants that maintain a presence in Europe. AvantGard-ETX helps enable mutual customers of Cr'edit Lyonnais and SunGard to report balances, transfer balances and create payments via wires, taking advantage of straight-through processing via SunGard's secure messaging network.
With AvantGard-ETX, Cr'edit Lyonnais can offer its clients that are participants of AvantGard-ETX access to their financial information, integrated in real time with their treasury management software, helping them to optimise their liquidity position.
"Our strategy is to offer electronic services to our clients through their existing tools, instead of forcing them to use our proprietary bank solutions. This strategic business relationship with SunGard opens new possibilities, especially for those of our clients who are managing their cash management business from the US and are already SunGard customers," said Dominique Piot, head of cash management, Cr'edit Lyonnais.
"Through AvantGard-ETX these customers can benefit from our complete range of services, without having to spend additional time and financial resources solving communication challenges, which tend to be rather complex and tedious when working with different countries within Europe," Piot added.
Ken Dummitt, president of SunGard's AvantGard business unit, said: "SunGard provides global cash management and treasury services, with major regional headquarters in Europe, Asia Pacific and the Americas. Our relationship with Credit Lyonnais is evidence of SunGard's commitment to increase the capacity of real-time treasury integration for our customers in Europe."
Share
Cr'edit Lyonnais is one of the leading French banks, part of Cr'edit Agricole Group, France's number one banking group. Cr'edit Lyonnais is a global domestic banking services provider, notably proposing state-of-the-art corporate transactional product and services through an extensive nationwide network of branches. Cr'edit Lyonnais has also developed a comprehensive range of international cash management services dedicated to multinational groups having set up a cash management in France. On top, the bank delivers cash management services in various zones through Group Cr'edit Agricole's international network.
To increase the bank's capacity to deliver extensive domestic cash management services outside France, Cr'edit Lyonnais has also recently entered into a comprehensive partnership agreement with major banking institutions in Western and European countries through the Unicash alliance. Please visit Cr'edit Lyonnais at www.creditlyonnais.com.
AvantGard
AvantGard Treasury and Capital Markets solutions offer a unique technology infrastructure that provides business executives with economic alternatives to leverage efficient processing of financial transactions such as asset and liability management and high-end risk management, with the security that their major financial market risks are properly managed to a policy and reported accurately.
AvantGard-ETX is a real-time messaging network that seamlessly connects existing technologies within the enterprise to those of third-party systems to provide corporate customers a secure and reliable end-to-end process. Transactions flow securely through AvantGard-ETX, helping to provide straight-through processing and end-to-end integration with the corporate treasury management system.
SunGard
SunGard is a global leader in integrated software and processing solutions, primarily for financial services. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 20 000 customers in more than 50 countries, including the world's 50 largest financial services companies. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenue of $3 billion. Visit SunGard at www.sungard.com.
Editorial contacts