Accenture and Fundtech have teamed to help banks improve global liquidity management in response to Basel III requirements and changing economic conditions.
Accenture will work with Fundtech to deliver its Global Liquidity & Risk Management solution and jointly develop new diagnostic tools, process models, and operational approaches for banks across Europe, North America and Asia.
"New regulations, market pressures and competitive challenges make liquidity management a crucial area of focus for banks," said Massimo Proverbio, global managing director, Accenture Payments Services. "Banks need to have an exact view of their cash positions at all times, be able to forecast cash requirements quickly and deal with numerous accounts in multiple countries. Accenture's and Fundtech's strong track records in this area represent an unmatched capability that banks can benefit from to address one of the most significant operational challenges they face today."
Accenture and Fundtech have helped implement liquidity management solutions for major banks globally. Together, the two companies will offer services and solutions designed to optimize operational control, visibility, and forecasting in their global intra-day liquidity management.
According to Fundtech CEO Reuven Ben Menachem: "Fundtech and Accenture offer the market a powerful combination - Accenture's well-established liquidity management and analytics expertise with Fundtech's experience in deploying advanced systems that help banks manage their intra-day liquidity needs. We are delighted to work with Accenture to provide banks with the tools they need to better operate in this challenging business environment."