SunGard (http://www.sungard.com) today announced that it will integrate its Real-time Liquidity Management solution with Gresham Computing plc's Clareti Cash Reporting Service (formerly known as Cable & Wireless Real Time Nostro) to offer value-added liquidity management and reconciliation services to its customers.
Gresham Computing's Clareti Cash Reporting Service provides correspondent banks a consolidated view of international payment transactions intra-day. SunGard's Real-time Liquidity Management solution will use Gresham Computing's Clareti Cash Reporting Service streamed Nostro account information from correspondent banks to help enable intra-day reconciliation against institutions' internal records, thereby helping to provide a real-time, validated view of liquidity.
The integration of these two solutions will help financial institutions and corporates benefit from real-time reconciliation and liquidity management. The solution will provide a validated view of liquidity to help enable better intra-day funding decisions.
Andrew Walton-Green, chief executive officer of Gresham Computing plc, stated, "The significant capital outlay involved in re-engineering back-office systems to deal with real-time international payment data has meant that only the largest banks have invested in the changes required. This new service-based offering will help small and medium institutions, as well as corporates, to leverage the global banking community's investment in SWIFTNet Cash Reporting."
Tom King, president of SunGard's STeP business unit, commented, "With the industry migration towards real-time information, reconciliation is moving away from its traditional proof and control function that happens post-settlement to an intra-day, predictive model that occurs pre-settlement. The availability of real-time data helps an institution to reconcile and manage exceptions at each stage of a transaction's lifecycle to better predict the likelihood of settlement, and help improve cash and liquidity management."
Share
Gresham Computing specializes in delivering real-time information solutions. Gresham develops and implements software solutions for banking, as well as integration and storage solutions. More than half of the Fortune 500 choose Gresham to help improve their competitive edge and bottom line performance in some of the most challenging market sectors. Gresham Computing plc is listed on the London Stock Exchange (GHT) and has offices in Europe, North America and Asia Pacific.
STeP
SunGard's STeP is a suite of business solutions that help deliver Straight-Through Enterprise Processing (STeP) to banks, investment managers, broker dealers, and corporations. STeP solutions connect customers' internal applications and business processes with external services and networks while managing the operations around their business processes. STeP solutions include MINT for SWIFTNet and financial messaging integration; intelliSUITE for reconciliation, exception processing, transaction research, and liquidity management; and Trade Management for post trade automation. Visit www.sungard.com/step.
SunGard
With annual revenue of $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.
Editorial contacts