South Africa's Nedbank has selected liquidity management technology from New York-based Aleri for its investment banking business.
The vendor says its Liquidity Management System (LMS) - based on its complex event processing technology - will enable Nedbank Capital to identify, measure, monitor and control liquidity risk in real-time.
LMS provides real-time views of both cash and liquid assets across the enterprise for current and future dates. The technology supports contingent liquidity risk processes with an up-to-date enterprise view of both cash positions and available liquid assets, says Aleri.
The vendor claims its technology is particularly valuable in the current economic crisis as banks scrutinise their risk management practices.
Dan Zulu, head, IT & projects, Nedbank Capital, says: "In light of the recent financial crisis we believe implementing a solid liquidity management system like Aleri's will help us better control future liquidity risk."
The deal is the first joint contract win for Aleri and Wall Street Systems, which became a preferred distribution partner for LMS in July. Nedbank currently utilises Wall Steet technology to support its FX and money market operations.