Key findings include:
* Exception rates did not fall in 2004, as they were predicted to do in last year's survey results. Respondents attribute the rise to lack of automation and lack of standards across the industry.
* One third of respondents see the potential of turning a traditional cost center into a profit center by offering SWIFTNet access or services to third parties.
* 66% of respondents rank FileAct as important or very important with regard to their business processes, and 58% of respondents plan to implement FileAct-related projects.
* Real-time information use is on the rise as 30% of respondents use it now, and another 60% plan to use it in the next two years.
Despite an increase in the number of exceptions, the cost of exceptions, as a percent of trading profits, has fallen.
Approximately 30% of respondents use real-time information now, and 60% plan to use it in the future:
* to provide real-time information to both counterparties and customers
* as members of the Real-time Nostro service
* and/or to reconcile data and detect & repair exceptions pre-settlement
A significant majority of respondents intend to extend their SWIFTNet services beyond FIN, chiefly by adding FileAct to their services portfolio. 66% percent of respondents ranked FileAct as important or very important. In fact, 58% intend to actually implement FileAct-related projects. This information is well in line with SWIFT's own figures, which show a 30% increase in the number of registered FileAct users over the last 3 months.
Tom King, president of SunGard eProcess Intelligence and SunGard Business Integration, commented, "Findings from this year's survey highlight the importance that automation brings to exception management. The survey also sheds new light on the services we can expect to see from top players in the coming months: FileAct services, third party access to SWIFTNet, and real-time information offerings are just part of the offerings we can anticipate."
Results are based on responses from 85 executives at financial services firms during Sibos 2004. A copy of the full survey is available upon request. SunGard will poll top financial institutions again at Sibos in 2005.