BNP Paribas Selects SunGard for STP intelliMATCH to provide matching and reconciliation software to France's largest listed banking group
LONDON, August 9 2001 - SunGard eProcess Intelligence, an operating unit of SunGard (NYSE: SDS), today announced that BNP Paribas' Corporate and Investment banking group (BFI), has selected SunGard's intelliMATCH software for matching and reconciliation. SunGard eProcess Intelligence provides exception processing solutions to improve straight-through-processing rates by automating the matching, reconciliation, research, and resolution of exceptions.
BNP Paribas is France's largest listed banking group. It ranks first in France in terms of net income and fourth in Europe for stockholders' equity. It has the second-largest stock market capitalization of all euro-zone banks. BNP Paribas stands out as a truly international player in the areas of corporate banking, capital markets, international private banking, and asset management.
BNP Paribas already successfully employs SunGard eProcess Intelligence's intelliMATCH in their Dublin, New York, London, and Singapore branches. The bank views intelliMATCH as a standard throughout the regional network due to the solution's ability to work on either a branch or regional hub basis, allowing users supported by BNP Paribas to work centrally or remotely. New installations and extended use of intelliMATCH will begin in Tokyo and Hong Kong, together with other branches in Asia, America, and Europe.
Part of the decision to invest in SunGard's intelliMATCH was based on the solution's generic matching capability as well as BNP Paribas' desire to use the same solution for cash and securities reconciliation, a key differentiator for the product.
Denis Rousseau, co-head of IT for Corporate and Investment Banking (BFI), comments, "intelliMATCH was the best system to meet our business requirements. SunGard eProcess Intelligence's software suite provides a global standard for Nostro and securities and provides us with generic matching capabilities, as well. Another attraction to the intelliMATCH solution was the ability for us to deploy individual branch installations while moving towards a regional hub model - mirroring our own IT strategy precisely."
David Pheasant, vice president of sales in Europe and Asia for SunGard eProcess ntelligence said, "We are delighted to partner with BNP Paribas BFI. Our philosophy is to provide flexible solutions that satisfy our customers' needs to automate back-office processes, reducing costs and improving efficiency, customer service, and competitiveness within their operations."