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 Bankâs 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, âThe Ambit Reconciliation solution helps Saxo Bank manage all our asset classes and transactions. By automating the reconciliation process and providing a comprehensive audit trail, weâre 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.â
Karen Cone, general manager, Worldwide Financial Services, Microsoft Corporation, said, âAutomating the reconciliation process across transactional lines of business provides financial institutions with greater transactional insight, operational efficiencies and enhanced risk management. Through Microsoftâs 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.â
Jennifer Hanes, executive vice president, Reconciliations, for SunGardâs Ambit corporate banking business unit, said, âAmbit 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 Reconciliationâs 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.â
* Ambit Reconciliation is a solution suite for tier 2-4 banking organizations, and incorporates SunGardâs IntelliMatch solution suite.