SunGard says Fortis Bank has bought intelliMATCH and intelliTRACS to centralize and automate its reconciliation and exception management.
SunGard says the banks has chosen intelliMATCH and intelliTRACS “After a long selection process, we chose intelliMATCH and intelliTRACS from SunGard based on its proven ability to provide solutions for automating our back-office processes,” explains Bernard Rozencweig, global information services manager, Fortis Bank. “The flexibility and robustness of intelliMATCH will enable us to replace all of our current reconciliation software and consolidate reconciliation across the entire bank. The extension of intelliTRACS builds upon the success we’ve seen in the past year since our implementation of the payments solution in spring of 2003. We are confident that the consolidation of these functions will help reduce our operating costs, reduce our operational risk, and improve efficiency while exacting greater control,” for the matching of nostro and internal accounts, deal confirmations, and securities transactions and positions. This will enable Fortis to consolidate all of its reconciliation functions onto a single platform, and will also have the ability to perform generic matching.
Matt Mandalinci, president, SunGard eProcess Intelligence, points out that Fortis already used intelliTRACS. “We are seeing a trend within our customers to centralize operations across the enterprise,” he says. “The bank’s selection of intelliMATCH and intelliTRACS underlines our commitment to providing highly scalable solutions to meet our customers’ continual needs to reduce costs while improving operational efficiency and mitigating risk.”