The leading web resource for financial technology
   
bobsguide.com

SunGard’s Ambit Reconciliation Solution Helps Saxo Bank Increase Transaction Volumes

email this aricle - SunGard’s Ambit Reconciliation Solution Helps Saxo Bank Increase Transaction Volumes    - New York - 13 September 2011 print this article - SunGard’s Ambit Reconciliation Solution Helps Saxo Bank Increase Transaction Volumes    - New York - 13 September 2011
Saxo Bank, a specialist in trading and investment, has determined that its transaction volumes have increased with the help of SunGard’s Ambit Reconciliation* solution, deployed on Microsoft SQL Server 2005 data management software and the Windows Server 2008 operating system. The solution provides a real-time matching and reconciliation platform on which Saxo Bank has consolidated its reconciliation and exception management operations across all trading platforms at the bank. According to Saxo Bank, they are now able to process more transactions per day compared to four years ago with fewer staff to manage the increase in transaction volumes.

SunGard's Ambit Reconciliation solution is an enterprise reconciliation and exception management solution that reconciles all transactions from external applications and counterparties with data from Saxo Bank’s line-of-business applications, including cash, derivatives, confirmations, and futures and options. The Ambit Reconciliation solution has helped the bank enhance its reconciliation operations while providing a platform from which to expand its services without increasing resourcing overheads.

Karina Deacon, chief financial officer, Saxo Bank, said, “The Ambit Reconciliation solution helps Saxo Bank manage all our asset classes and transactions. By automating the reconciliation process and providing a comprehensive audit trail, we’re helping ensure that the business complies with the high standards of transparency and accuracy required by our clients and regulators. Additionally, by increasing our match rate we are decreasing financial risk for ourselves and our clients.”

Karen Cone, general manager, Worldwide Financial Services, Microsoft Corporation, said, “Automating the reconciliation process across transactional lines of business provides financial institutions with greater transactional insight, operational efficiencies and enhanced risk management. Through Microsoft’s global alliance with SunGard, institutions around the world are transforming the reconciliations process and realizing the benefits of the high-performance, mission-critical platform of Microsoft SQL Server and Windows Server.”

Jennifer Hanes, executive vice president, Reconciliations, for SunGard’s Ambit corporate banking business unit, said, “Ambit Reconciliation is quickly and easily deployed, helping customers achieve faster time-to-market. The solution can support a wide variety of asset classes and deliver operational improvements to trading and investment firms such as Saxo Bank. Ambit Reconciliation’s dashboard capabilities helps executives from across the bank view information on specific trading areas, risk or performance indicators. By automating complex reconciliation processes, Ambit Reconciliation helps Saxo Bank improve its ability to monitor and manage operational risk.”

* Ambit Reconciliation is a solution suite for tier 2-4 banking organizations, and incorporates SunGard’s IntelliMatch solution suite.

Comments (0)

No one has commented on this yet. Be the first!
Add your comment - Max 1000 characters used
More news

More from this company