LONDON, 3 April 2006: UBS has become the latest high profile signing for Aqua Global Solutions’ Intercept e2gen Transaction Cycle Processing suite. As with a number of other users, the bank has taken the platform to reside with ERI’s core IBM iSeries-based banking system, Olympic. Initially for Paris, the bank has signed for broad functionality, across payments, treasury and securities.
The selection process was a detailed one, with a wide range of suppliers evaluated. The bank’s Head of IT, Frank Iller, says: ‘The main requirement is to monitor, from a business perspective, the exchange of Swift messages, both incoming and outgoing. For each, we want to understand the different status to improve the efficiency of our settlement processes’.
A key reason for Aqua Global’s success was a two-day proof of concept workshop in which it was able to demonstrate processing of outward payments, treasury and securities messages and automatic inward booking of payments. Proven integration with Olympic was another factor, with this live in a number of sites. Aqua Global Solutions’ Sales Manager, Peter Truckle, says: ‘The success was a testimony to the standardisation and depth of integration between Intercept e2gen and Olympic’.
This assertion is backed up by Mr Iller: Intercept e2Gen was chosen, he says, because it, ‘fits the purpose, seems to be the most mature product and interfaces more easily than others with our production system’.
The first phase will focus on cash management and inward payment processing. UBS has also signed for outward message processing for payments, securities and treasury, as well as the treasury and securities message matching modules. The aim is to fully automate settlement processing within Olympic. The phased implementation is due for completion by mid-2006. This is Aqua Global’s first success within UBS.