The largest transport company in South Africa, Transnet Limited runs most of the countryâs transportation networks, including train companies, ports and South African airways. With a workforce of 80,000, Transnet consists of nine divisions including Spoornet, Port Authority, Port Operations, freightdynamics, Petronet, Metrorail, Propnet, Transtel and Transwerk, as well as South African Airways and a number of related and support businesses.
Transnetâs head treasury office will use BancWare to measure and analyze the companyâs interest rate risk and achieve better visibility into the companyâs risk exposure. Transnet currently uses SunGardâs Quantum treasury solution, which will work in conjunction with BancWare. Straight-through processing will be achieved through automatic data feeds from Quantum directly into BancWare. In addition to helping improve efficiency, this integration will eliminate manual intervention and help reduce operational risk.
Lumkile Mondi, treasury manager, Funding, Transnet Limited, said, "We selected BancWare because it was the best product of its kind and the only one that could be seamlessly integrated into our treasury system. SunGardâs expertise in integrating solutions and its experience in the global business environment were key factors in our decision."
Terence Faherty, president, BancWare, SunGard Trading and Risk Systems, said, "We are pleased to be working with Transnet to help it develop a consolidated view of its risk. Our technology provides the necessary integration and decision-support tools to facilitate strategic risk analysis across its entire organization. Transnet, like many SunGard clients, recognizes that it can achieve incremental value by integrating BancWare with other SunGard products that it already uses."