Amsterdam (PRWEB) May 04, 2011
SNS Financial Markets, the treasury and capital markets arm of SNS Reaal, which resides under SNS Bank NV, has gone live on SunGard’s Ambit Treasury Management* solution. The solution helps the bank manage its treasury back-office operations, including finance and control, accounting and cash management, on a single platform. It also helps SNS Bank increase operational efficiency, improve enterprise-wide risk management and enhance reporting and transparency.
SNS Bank has completed the first phase of the project to migrate its back-office treasury operations onto Ambit Treasury Management, which now manages all treasury instruments. The ASP-based solution also provides full support for SWIFT messaging for payments and confirmations, CLS processing, Target2 payments and collateral management. SNS Bank is now working with SunGard on the second phase of the project to migrate its front-office and risk management operations onto the Ambit Treasury Management Risk module, which will provide the bank with a centralized platform to manage its entire front-to-back-office treasury management activity.
Bob Goedhart, director of operations, SNS Financial Markets, said, “SunGard’s Ambit Treasury Management solution provides the bank with the flexibility to manage all front-, middle- and back-office operations on a single platform. Rationalizing the number of systems used to support our treasury activity helps us increase end-to-end processing efficiency, gain improved reporting and control, and better manage risk across the enterprise. We have benefited from reduced operating costs thanks to the availability of a hosted solution, and we are confident that Ambit Treasury Management can accommodate future growth in transaction volumes and the range of asset classes that we support.”
Andrew Woods, executive vice president, treasury for SunGard’s Ambit Corporate Banking business unit, said, “Ambit Treasury Management helps bank treasurers take a more holistic and strategic approach to managing risk across the enterprise. Using an integrated and scalable front-to-back office solution with straight-through processing (STP) for cash, liquidity and risk management helps banks, like SNS, achieve higher levels of automation and lower transaction costs.”
*Ambit Treasury Management is a solution suite for tier 2-4 banking organizations, and incorporates SunGard’s Quantum solution.
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
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