Credit Suisse Private Banking Chooses SunGard's intelliMATCH EP for Exception Processing.Business Editors LONDON--(BUSINESS WIRE)--Dec. 10, 2001 SunGard eProcess Intelligence, an operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon of SunGard (NYSE NYSE See: New York Stock Exchange :SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. ), today announced that Zurich-based Credit Suisse The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. It is the second-largest Swiss bank, behind UBS AG. Private Banking, one of the world's largest private banking companies, has selected intelliMATCH EP, SunGard's reconciliation and exception processing solution. IntelliMATCH EP will initially be used for reconciliation and investigations in treasury and in domestic and international securities settlement. The exception processing platform will help improve straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. rates at the banking group by automating processes such as system-to-system reconciliation. Hanspeter Luethi, vice president of Credit Suisse Private Banking, comments, "The key industry initiatives - CLS (Common Language Specification) The structure and syntax of .NET and CLI programming languages. See .NET. , GSTPA GSTPA Global Straight Through Processing Association , and T+1 -- pose challenges for an industry leader such as Credit Suisse Private Banking. We have the opportunity both to streamline our existing client services, replacing any legacy hurdles, and to attract additional emerging markets as rapidly as market growth demands (we are, for instance, a CLS Settlement Member). This is why we required a reconciliation and exception processing solution that could provide immediate returns as well as future competitive advantage. SunGard eProcess Intelligence was without doubt the winning contender given this challenge." "Using a single platform for reconciliation and exception processing will facilitate even tighter consolidation of the services provided within the Group - an added benefit. SunGard is providing a special, wide-ranging license for the software so that we can progress strategic development at the pace we choose, and therefore maximise our return-on-investment." Lane Savage, president of SunGard eProcess Intelligence, commented, "The industry is increasingly recognizing the need for automation within the investigations process. Exceptions need to be automatically identified, automatically created as investigation cases, initiated, routed, researched, reprocessed, tracked and reported on-line. IntelliMATCH fully automates the processing of exceptional items, which are the major source of operational and reputation risk." About Credit Suisse Private Banking Credit Suisse Private Banking is one of the world's largest private banking operations and has a strong presence in both the Swiss and international markets. It currently serves over 300,000 clients worldwide and manages assets totalling around USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 298 billion. By offering competitive, state-of-the-art products, Credit Suisse Private Banking aims to strengthen its leading position in offshore business and increase its presence in onshore on·shore adj. 1. Moving or directed toward the shore: an onshore wind. 2. Located on the shore: an onshore beacon; an onshore patrol. adv. private banking, which is aimed at the European and Asian markets. Credit Suisse Private Banking also provides comprehensive financial advice covering tax, inheritance inheritance, in law inheritance, in law: see heir. inheritance, in biology inheritance, in biology: see heredity. inheritance Devolution of property on an heir or heirs upon the death of its owner. , trusts, retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. and real estate. All of these products and services are geared towards the client's requirements in terms of return, security and liquidity. About SunGard eProcess Intelligence SunGard eProcess Intelligence is a leading provider of exception processing and enterprise report management solutions. SunGard's exception processing solutions improve straight-through processing rates by automating the matching, reconciliation, research, and resolution of exceptional electronic transactions. SunGard enterprise report management solutions provide electronic report storage for legal archiving and compliance, Web-enabled report distribution and a unique, patented report mining & business intelligence capability designed to bring report data to life. SunGard eProcess Intelligence has been providing solutions to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry for more than 15 years and our clients include 70 of the world's top 100 financial institutions. About SunGard SunGard (NYSE:SDS) is a global leader in integrated IT solutions and eProcessing for financial services. SunGard is also the pioneer and a leading provider of high-availability infrastructure for business continuity. With annual revenues in excess of $1 billion, SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services companies. Trademark Information: SunGard, the SunGard logo, and intelliMATCH are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders. |
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