CALABASAS, CA, March 29, 2005 - SunGard (NYSE:SDS) today announced that Crédit Lyonnais, Group Crédit Agricole (CAC: FR0000045072), has joined SunGard’s AvantGard-ETX network. AvantGard-ETX provides Crédit Lyonnais secure, real-time cash management, treasury and execution services, including trading, borrowing and investing. Using AvantGard-ETX, Credit Lyonnais is able to seamlessly connect to a network of member financial institutions for straight-through processing of transactions and a holistic view of global cash positions.
Credit Lyonnais is SunGard’s first AvantGard-ETX customer in France. AvantGard-ETX will provide Credit Lyonnais with Web-based connectivity via a single window to all AvantGard-ETX participants that maintain a presence in Europe. AvantGard-ETX helps enable mutual customers of Crédit Lyonnais and SunGard to report balances, transfer balances and create payments via wires, taking advantage of straight-through processing via SunGard’s secure messaging network.
With AvantGard-ETX, Crédit Lyonnais can offer its clients that are participants of AvantGard-ETX access to their financial information, integrated in real time with their treasury management software, helping them to optimize their liquidity position.
"Our strategy is to offer electronic services to our clients through their existing tools, instead of forcing them to use our proprietary bank solutions. This strategic business relationship with SunGard opens new possibilities, especially for those of our clients who are managing their cash management business from the United States and are already SunGard customers," said Dominique Piot, head of cash management, Crédit Lyonnais. "Through AvantGard-ETX these customers can benefit from our complete range of services, without having to spend additional time and financial resources solving communication challenges, which tend to be rather complex and tedious when working with different countries within Europe," Ms. Piot added.
Ken Dummitt, president of SunGard’s AvantGard business unit, said, "SunGard provides global cash management and treasury services, with major regional headquarters in Europe, Asia Pacific and the Americas. Our relationship with Credit Lyonnais is evidence of SunGard’s commitment to increase the capacity of real-time treasury integration for our customers in Europe."
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