SunGard today announced that its real-time cash reporting and liquidity management solution, STeP Real-time Information, has been awarded SWIFTNet Ready Nostro Account Information labels for both users and providers for 2005.
This year's accreditation marks the fourth consecutive year that SunGard's solution has achieved accreditation for the SWIFTNet Ready certifications.
SunGard's STeP Real-time Information (RTI) provides a secure, real-time view of account information both inside and outside an institution, incorporating SWIFT's XML structured query and response messages to expedite transaction processing over SWIFT's IP-based messaging platform, SWIFTNet.
STeP RTI helps global correspondent banks, clearing firms, treasury operations and asset managers improve their efficiency by providing Web-based access to balance, transaction, and statement financial information. The solution enables service providers to deliver real-time account information to their customers via SWIFTNet, and users to access the information for an aggregate view of the accounts they hold across all correspondents, then reconcile that data against internal records for a true, validated view of their positions to help better manage liquidity.
"We are very pleased to award the SWIFTNet Ready label for Nostro Account Information to STeP Real-time Information. This achievement is a result of SunGard's proactive involvement in this SWIFT initiative," commented Allan Spalding, business manager, partner solutions at SWIFT.
"The availability of applications supporting SWIFT's XML standards and connectivity to SWIFTNet is key to helping ensure the industry players derive true benefit from access to real-time information," she added.
Colin Day, director of product and strategy at SunGard's STeP business unit, commented: "We've been working closely with SWIFT and the Real-time Nostro Account Information Steering Group to help define industry standards for cash reporting over SWIFTNet. We're pleased to have garnered the SWIFTNet Ready accreditation again this year, underlining our commitment to providing the industry with solutions that help reduce risk and costs, and help improve customer service. Using SWIFTNet InterAct messaging services together with the new SWIFT XML-based standards, STeP Real-time Information helps service providers to improve their service by offering access to real-time information in a secure, reliable and standardised way. Users are able to help improve their management of risk and liquidity by virtue of their access to real-time information on their Nostro accounts and cash transactions."
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SunGard STeP provides a suite of business solutions that helps deliver straight-through enterprise processing (STeP) to banks, investment managers, broker dealers, and corporations, STeP connects 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. Twenty-one of the world's 25 largest financial services companies use STeP for their messaging or exceptions management.
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.
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