SunGard eProcess Intelligence, an operating unit of SunGard (NYSE:SDS), today announced that Credit Suisse Private Banking, one of the world's largest private banking companies headquartered in Zurich,has invested in the Exception Processing solution - intelliMATCH EP.
The Exception Processing platform, comprised of SunGard ePI's intelliMATCH, intelliTRACS and intelliTRAN solutions, is initially being applied to reconciliation and investigations in Treasury (FX and MM), and in domestic and international securities settlement.The Exception Processing platform will benefit the banking group in the automation of underlying processes, such as system-to-system reconciliation for more complete transaction life cycle management.
The decision to invest in SunGard ePI's solution was dependent on its unique ability to provide a seamless path to fully automate the processing of exceptional items, where the majority of financial and reputation risk is incurred by interbank service providers. The industry is increasingly recognising the need for automation within the investigations process. Exceptions need to be automatically identified, automatically created as investigation cases, initiated, routed, researched, reprocessed, tracked and reported on-line.
Hanspeter Luethi, Vice President of Credit Suisse Private Banking, comments, "The key industry initiatives - CLS, GSTPA, and T+1 -- pose challenges for an industry leader such as Credit Suisse Private Banking.
We have the opportunity both to streamline our existing client services, replacing any legacy hurdles, and to attract additional emerging markets as rapidly as market growth demands (we are, for instance, a CLS Settlement Member). This is why we required a reconciliation and exception processing solution that could provide immediate returns as well as future competitive advantage. SunGard ePI was without doubt the winning contender given this challenge."
"Using a single platform for reconciliation and exception processing will facilitate even tighter consolidation of the services provided within the Group - an added benefit. SunGard ePI is providing a special, wide- ranging license for the software so that we can progress strategic development at the pace we choose, and therefore maximise our return-on-investment."