They have to boost automation while increasing visibility into the business, which is resulting in greater solution performance demands.
(Vocus) June 24, 2010
SunGard has enhanced its IntelliMatch solution suite to help tier one financial institutions streamline their enterprise-wide processes for reconciliation, exception management, financial governance and archiving. The enhancements include new intelligent workspaces, a new financial governance component and performance improvements. This latest release will help financial institutions increase operational efficiency, reduce risk and improve scalability and performance across their lines of business - including cash and securities operations, brokerage, derivatives, asset management, trust and custody, fund administration, and insurance.
Managing reconciliations has become increasingly important due to the pressure to reduce costs and streamline operations. Yet growing data complexity and transaction volumes and new compliance requirements have made the task more challenging. The latest release of SunGard’s IntelliMatch solution suite helps customers meet these challenges by supporting new transaction types, delivering analytical tools to drive continual process improvement, supporting intraday reconciliation to enable real-time visibility, and scaling to handle higher transaction volumes.
“Factors like system consolidation, regulatory compliance, and transaction volume growth are driving a renewed emphasis on efficiency in the back office. Firms must mitigate risk and better manage costs while supporting complex asset classes and maintaining a high level of customer service,” said Fritz McCormick, senior analyst at Aite Group. “They have to boost automation while increasing visibility into the business, which is resulting in greater solution performance demands.”
Dave Barrett, chief operating officer at SunGard’s Ambit corporate banking business unit, said, “Our customers are under pressure to continually demonstrate efficiency gains and improve visibility into back-office processing. This is a real challenge in an environment where regulations are changing and transparency is needed throughout the organization. The enhancements to IntelliMatch help users to work smarter – that is, complete reconciliations more quickly, easily and accurately - and process transactions faster. They also include a number of new analysis and audit features. We are therefore helping our customers gain greater visibility and control of their business.”
The solution provides support for proofing cash and positions, managing the financial close, reconciling derivatives, margin and collateral, and ATM and FX matching. It also helps resolve payment investigations. New enhancements include:
? A new user interface which helps users create intelligent workspaces to complete reconciliations more quickly, easily and accurately.
? Enhanced monitoring tools to help users better track progress throughout the day and prioritize and escalate work, helping to optimize productivity and improve process management.
? A new financial governance solution component that helps increase control and visibility over financial close activities, helping reduce the time and cost associated with period-end closing and the risk of material weaknesses and financial restatements.
? Optimized data and rules processing to deliver improved performance with the ability to process up to 50 million transactions in only 25 minutes.*
For more information on the latest version of IntelliMatch, please visit: http://www.sungard.com/campaigns/fs/banks/enterprisewidereconciliation/homepage.aspx
*] These performance gains were achieved during performance benchmarking and analysis using high-performing Intel® Xeon® 5600 series servers on the application tier and Intel® Xeon® 7500 series servers with Intel’s Solid State Drives on the data tier.
SunGard's IntelliMatch is an enterprise reconciliation, exception management and archiving solution suite for financial institutions. IntelliMatch helps customers increase operational efficiency and reduce operational risk by allowing them to proof cash and positions; manage the financial close; reconcile derivatives, margin and collateral; match ATM and FX transactions; perform inter-system reconciliations, and resolve payment investigations. For more information, visit http://www.sungard.com/intellimatch
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.
Trademark Information: SunGard, the SunGard logo and Ambit are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.