SunGard has announced today that Saxo Bank has chosen its IntelliMatch Cash and Liquidity Monitor to automate intraday liquidity monitoring for external accounts, reporting and forecasting processes. The solution is meant to help the firm achieve greater visibility over intraday liquidity, improve cash management and reduce counterparty, trading and settlement risk.
“We aim to provide our clients with the competitive edge needed to stay ahead in today’s ever-changing, global market. IntelliMatch Cash and Liquidity Monitor will help the bank minimize the impact of currency and liquidity fluctuations while helping us achieve our strategic growth objectives for our institutional client business.” – Thomas Otendal, Group Treasurer, Saxo Bank A/S.
IntelliMatch Cash and Liquidity Monitor dynamically calculates real-time balances throughout the day. It is designed to help clients capitalize on cash surpluses, minimize penalties where there are shortfalls and optimize the distribution of funds for higher returns.
“Financial services organizations rely on SunGard solutions to help them deliver better products, improve operational efficiency, manage risk and enable compliance with the latest regulations. IntelliMatch Cash and Liquidity Monitor provides centralized automation for the calculation, analysis and monitoring of intraday liquidity positions for enhanced cash management,” said Jennifer Hanes, chief operating officer, SunGard’s reconciliation business.
SunGard is a provider of technology solutions for the financial industry, having built a wide base of products and customer types that they support. The group made headlines in August after its software suffered a glitch which caused a breakdown at BNY Mellon’s trading facility. The malfunction placed billions worth of dollars in a precarious state of disarray that took almost a week to resolve.