Calabasas, CA, September 15, 2004 -- SunGard Treasury Systems, an operating group of SunGard (NYSE:SDS), today announced that Jordan National Bank has selected a fully integrated SunGard solution to meet the needs of its treasury. A combination of AvantGard Quantum, AvantGard-Risk and BancWare will help the bank’s risk management operation to increase efficiency and accuracy in funds management and deliver improved market analysis and treasury planning.
Jordan National Bank serves four countries in the Middle East: Jordan, Lebanon, Cyprus and Palestine. It selected SunGard because of its ability to provide an integrated, straight-through processing solution across treasury, cash and balance sheet management. The combined solution will fully automate the management of treasury and capital market products, help increase the efficiency of assets and liabilities and risk management, and help enhance controls.
SunGard was recommended by MDS, a consulting firm commissioned by the bank. MDS’s regional presence in the Middle East, and specifically in Jordan, teamed with the consulting firm’s experience in implementing SunGard Treasury Systems solutions regionally, played an important role in Jordan National Bank’s selection of SunGard.
"Banking technology is progressing at a very fast pace in Jordan, due to the Jordanian government’s policy toward making Jordan an IT hub as well as the entry of foreign banks into the Middle East," said Rashid Daoudi, deputy chief executive officer, Jordan National Bank. "We sought a solution that would help us to quickly and easily adapt to these changes and help us to manage and comply with all the associated risks and regulatory requirements," Mr. Daoudi said.
"Providing integrated solutions and services is a priority for SunGard. The solution at Jordan National Bank illustrates our success in building complete solutions for clients that can help them to integrate processes and bridge business silos to create more efficient, streamlined operations," said Jim Ashton, group chief executive officer, SunGard Treasury Systems.