Dubai (PRWEB) April 18, 2011
Arqaam Capital, a leading investment banking firm in the Middle East, has selected SunGard's Ambit Reconciliation* solution to help improve efficiency and mitigate risk across its various divisions. The solution will help automate Arqaam’s reconciliations process across asset classes.
One of Arqaam Capital’s strategic objectives is to create a strong Middle Eastern investment bank that promotes the efficiency and depth of capital markets in the region. SunGard’s Ambit Reconciliation solution will help provide matching coverage for cash and treasury including cash positions, FX, nostro accounts and internal accounts as well as for securities including positions, movements, confirmations and statements across all asset classes. This will help streamline operations and increase cost savings by identifying costly exceptions early on. The solution will also provide a dashboard for consolidated actionable views across all asset classes, business lines and geographies, which will help reduce operational risk and provide greater control and increased governance.
Dennis Wijsmuller, chief operating officer of Arqaam Capital, said, “With SunGard’s Ambit Reconciliation solution, we have an automated solution for real-time matching and reconciliation. In addition to the impressive functionality and ease-of-use of the solution, SunGard’s support infrastructure in the Middle East was a critical factor in our selection.”
Wissam Khoury, managing director, SunGard Financial Systems, Middle East, said, “Financial institutions in the Middle East are experiencing exceptional growth in transaction volumes and diversity of instrument types, which is impacting their reconciliation process. With SunGard’s Ambit Reconciliation solution, Arqaam is putting in place a proactive strategy to automate its reconciliation and exception management process. This will provide the bank with a secure platform for continued growth, while helping to increase its operational efficiency and reducing risk.”
- Ambit Reconciliation is a solution suite for tier 2-4 banking organizations, and incorporates SunGard’s IntelliMatch solution suite.
About Arqaam Capital
Arqaam Capital is a fast-growing strong player in the investment banking world, bringing regional and international product offerings to the Middle East. Arqaam Capital creates and generates investment transaction opportunities and manages risk portfolios through offering a capital intermediation platform that facilitates access, both for Middle Eastern investors looking to invest in the region and internationally, and for international investors looking for opportunities in the Middle East. Arqaam Capital operates out of offices in Dubai and London. Its headquarters are in the Dubai International Financial Centre and it is authorized and regulated by the Dubai Financial Services Authority. Arqaam Capital has seven business lines - Equity Derivatives, Credit, Treasury, Brokerage, Corporate Finance, Asset Management and Custody.
For more information, visit http://www.arqaamcapital.com.
About SunGard's Ambit
SunGard's Ambit is a banking solution suite for retail, commercial and private banks. It provides banking professionals with solutions that support front-, middle- and back-office operations, as well as solutions for financial management, risk and performance. Ambit helps banks retain and acquire customers, improve staff efficiency and effectively measure and allocate their capital. For more information, visit http://www.sungard.com/ambit.
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 about $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, visit http://www.sungard.com
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.
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