Surecomp, a leading developer of wholesale banking solutions has announced the launch ofallMATCH, an innovative confirmation matching solution. By leveraging the power, flexibility and simplicity of Java technology, coupled with in-house treasury market expertise, Surecomp has developed a next-generation confirmation matching and settlement solution.
allMATCH is the latest in a suite of Java solutions developed by Surecomp in recent years:
- allNETT – internet-based corporate trade finance solution
- allTRA – bank back office trade finance solution
- allFAC – factoring and supply chain solutions solution
Cross-platform Java solutions offer a bank substantial reduction in capital equipment outlay, on-going maintenance resulting in a lower TCO and an increase their treasury operations ROI, all of which positively impacts the bank’s bottom-line.
The need to reduce settlement risk coupled with the need to streamline treasury activities to increase per-trade profit and a reduction in staff overheads has driven many banks to acquire or build some form of automated confirmation matching software. The latter have not been particularly successful since they typically addressed only certain types of processing and ignoring other business activities, such as exceptions handling and investigations or most commonly, corporate trades, while not allowing for market changes or business growth. Additionally there are a large number of legacy systems still operating that simply do not offer the types of features that are demanded by an increasingly competitive business market.
Financial regulators are becoming increasingly critical of banks whose internal systems and operating procedures are unable to support such a dynamic and changing environment.
Built on the success of Surecomp’s highly acclaimed Perfect Match, allMATCH offers a complete range of proactive confirmation matching features:
- Depth of Coverage – including Foreign Exchange / Money Market, Derivatives, Swaps, Precious Metals , Continuous
- Linked Settlement (CLS), Non-Deliverable Forwards (NDF’s) and Banknotes
- Financial Institutions and Corporate trades as well as SWIFT and non-SWIFT trades supported
- Broker Commissions calculated and matched
- Real-time Reporting Exceptions Based Processing
- Integrated Investigations
- Complete on-line Audit Trail of all trade activities
- On-line history
- Productivity features
- Ease of use
- Integrated solution
Speaking to senior Surecomp managers and selected guests prior to Sibos 2008, Joel Koschitzky, Surecomp Chairman and CEO remarked “Over the past year we have witnessed an increased risk to financial institutions caused by inadequate processing due to poor data quality and human error. For many financial institutions in today’s unstable environment all it takes is one incorrect or missed calculation for a bank’s operating bottom-line to be damaged, sometimes with dire results. At Surecomp we pride ourselves on our ability to react positively and in a timely manner to market requirements. These are not knee-jerk reactions to market whims but rather the result of meaningful consultation with Surecomp customers and other interested parties. We understand that bank’s require more than ‘just nice to have solutions’, they want systems that will protect their financial and business reputation and investments.”
“Following the success of our trade finance and factoring Java solutions, and as a result of customer discussions we embarked on the development of allMATCH. Our driver in this endeavor was very simple. Coupling together the change in the nature of treasury business in recent years, with the necessitate to handle ever-increasing volumes of traffic and packaging this into a solution that was “tried and tested” yet still retains the feel of new generation technology. allMATCH is the ideal solution to address the fast paced ever-changing market” concluded Joel Koschitzky.
Available in two versions – installed or ASP – allMTACH is the trading department’s first-line of protection against trade inaccuracy by aiding financial institutions in their efforts to reduce and control settlement risk.
Established in 1987, Surecomp [www.surecomp.com] is a market pioneer with a proven track record delivering innovative solutions to major banks and financial services providers worldwide. With a global network of regional offices and state-of-the-art development centers, Surecomp successfully supports hundreds of installations in more than 60 countries. Surecomp’s integrated portfolio of solutions streamlines the transaction lifecycle to minimize costs and maximize profits.