SunGard system to link banks and corporate treasuries
01 November 2000 | 2824 views | 0
SunGard Treasury Systems has unveiled eTreasury eXchange, a real-time system designed to link corporate treasurers and financial services providers.
eTreasury eXchange has been designed for treasurers to access consolidated balance and transaction information in real-time and to integrate it seamlessly into their treasury management workstation, says SunGard. Services include automatic retrieval of bank statements, online quotes, instant confirmations, electronic funds transfers and payment initiation.
The new system replaces existing dial-up connections with secure, encrypted, real-time information flows, so that the treasurer's positions are current at all times. eTreasury eXchange also provides treasurers direct execution of trades with selected banks and brokers, and automatic straight-through processing for settlement.
The service is linked to the SunGard Transaction Network, which claims to process more than 70 percent of daily Nasdaq trades and serve 47 of the world's largest 50 financial services institutions.
"IDC Research shows that better integrating corporate treasurers with their financial-services providers is a key part of the services supply chain equation," says Scott Tiazkun, research manager, International Data Corporation. "SunGard's global reach, with over two million trades a day, positions STS' eTreasury eXchange with a solid step forward in the race to straight-through processing."