NRW.BANK’s capital markets group has chosen SunGard ePI’s intelliMATCH for automating the reconciliation of trades.
A recent re-organization within Westdeutsche Landesbank Girozentrale formed two banks, now known as WestLB AG and NRW.BANK. NRW.BANK, the development bank for the State of North Rhine-Westphalia, required a reconciliation solution for its capital markets business, a spokesman for the bank said.
The result was that NRW.BANK chose intelliMATCH to handle the reconciliation of trade data with its back-office systems, and to perform system-to-system reconciliation for its multiple sub-ledger systems with its front-office system, SunGard’s FRONT Arena. The bank currently tracks and reconciles about 20,000 trades in its portfolio.
The selection of intelliMATCH was based upon the satisfaction level with the solution, already in place at WestLB AG, the company said.
“All of our processes, procedures, and reports are already configured and functioning well with intelliMATCH. Nonetheless we carried out an evaluation of reconciliation solutions. After careful assessment, the intelliMATCH solution was a clear choice with which to move ahead at NRW.BANK,” said Jens Heinrich, director IT trading at NRW.BANK.