The IG Group, a leading provider of financial spread betting and contracts for difference (CFDs), has gone live on SunGard's IntelliMatch Operational Control, establishing a reconciliation center of excellence to support its growing global operations.
The IG Group has implemented IntelliMatch Operational Control at its headquarters in London to help automate its cash and securities reconciliations across its business. This greater level of automation will help IG achieve higher auto-match rates and reduce manual intervention, so that staff activity can be focused on managing exceptions and further process optimization.
SunGard's solution will also help IG meet compliance reporting requirements by providing business insight into its reconciliation processes with a 'point-in-time' capability to view a snapshot of its reconciliations retrospectively.
James McCarthy, head of financial systems at IG, said, "Technology plays a core role in our business strategy, as it is critical that our infrastructure can scale up as our business expands. SunGard's IntelliMatch Operational Control has enabled us to establish a centralized, scalable platform for real-time matching and reconciliation to help reduce risk, improve audit and control and eliminate manual processes. We selected SunGard because of the strength of the solution, its web-based user interface and its point-in-time reconciliation functionality."
Jennifer Hanes, executive vice president, Operations, for SunGard's Banking business, said, "SunGard's IntelliMatch Operational Control helps global financial institutions like the IG Group establish end-to-end automation for all reconciliation environments on a single platform, helping reduce costs, lower operational risk and manage the long-term scalability and optimization of reconciliation-based business processes."