SunGard has enhanced its IntelliMatch solution suite to help tier one financial institutions streamline their enterprise-wide processes for reconciliation, exception management, financial governance and archiving. The enhancements include new intelligent workspaces, a new financial governance component and performance improvements. This latest release will help financial institutions increase operational efficiency, reduce risk and improve scalability and performance across their lines of business – including cash and securities operations, brokerage, derivatives, asset management, trust and custody, fund administration, and insurance.
Managing reconciliations has become increasingly important due to the pressure to reduce costs and streamline operations. Yet growing data complexity and transaction volumes and new compliance requirements have made the task more challenging. The latest release of SunGard’s IntelliMatch solution suite helps customers meet these challenges by supporting new transaction types, delivering analytical tools to drive continual process improvement, supporting intraday reconciliation to enable real-time visibility, and scaling to handle higher transaction volumes.
“Factors like system consolidation, regulatory compliance, and transaction volume growth are driving a renewed emphasis on efficiency in the back office. Firms must mitigate risk and better manage costs while supporting complex asset classes and maintaining a high level of customer service,” said Fritz McCormick, senior analyst at Aite Group. “They have to boost automation while increasing visibility into the business, which is resulting in greater solution performance demands.”
Dave Barrett, chief operating officer at SunGard’s Ambit corporate banking business unit, said, “Our customers are under pressure to continually demonstrate efficiency gains and improve visibility into back-office processing. This is a real challenge in an environment where regulations are changing and transparency is needed throughout the organisation. The enhancements to IntelliMatch help users to work smarter – that is, complete reconciliations more quickly, easily and accurately – and process transactions faster. They also include a number of new analysis and audit features. We are therefore helping our customers gain greater visibility and control of their business.”
The solution provides support for proofing cash and positions, managing the financial close, reconciling derivatives, margin and collateral, and ATM and FX matching. It also helps resolve payment investigations. New enhancements include:
- A new user interface which helps users create intelligent workspaces to complete reconciliations more quickly, easily and accurately.
- Enhanced monitoring tools to help users better track progress throughout the day and prioritise and escalate work, helping to optimise productivity and improve process management.
- A new financial governance solution component that helps increase control and visibility over financial close activities, helping reduce the time and cost associated with period-end closing and the risk of material weaknesses and financial restatements.
- Optimised data and rules processing to deliver improved performance with the ability to process up to 50 million transactions in only 25 minutes.