SunGard says that ING Group has bought its STeP (Straight Through Enterprise Processing) Platform for reconciliation and exception management, replacing 30 existing systems. The technology is already installed at ING Financial Markets.
SunGard recently announced the integration of its intelliMATCH trade matching application with the STeP application, which is based on Microsoft’s .NET framework.
“After an exhaustive selection process and a successful proof of concept, we’ve chosen SunGard’s STeP Platform because of its highly scalable architecture, which fully supports our large volumes and multiple transaction types,” says Andr Vanden Camp, ING Europe, functional chief information officer for Transaction and Private Banking. “We are impressed with SunGard’s ability to satisfy all of our requirements for centralized reconciliation and exception processing, and to help us in building the European OPS & IT reconciliation platform. The solution’s ability to handle many different lines of business will enable us to consolidate all of our reconciliation operations across the enterprise, leveraging tighter control in our new Global Competence Centre.”