SunGard upgrades treasury offering; signs Harvard for ISO 15022 Swift ASP
05 November 2002 | 3895 views | 0
SunGard Treasury Systems is to provide financial executives with an aggregated snapshot of cash positions and exposures under a new premium group of products and services named AvantGard.
AvantGard Enterprise Treasury solutions are made available through SunGard’s eTreasury eXchange (eTX), which provides an instant exchange and reconciliation of financial data between corporations and their financial institutions.
The suite of services includes: Liquidity eXpress (LeX) which extracts real-time cash and forecast data from corporations’ existing enterprise solutions, combines them with bank data via eTX, and then provides evaluation tools based on Microsoft’s .NET framework; Shared Services which centralises payment processing, manages inter-company netting processes and enables automated update and exception management of receivables; Messaging Manager providing straight-through processing via eTX of services including FX deal execution via FX Connect, Cash Management, CP Issuance and Investment, and direct bank interfacing.
Seperately, SunGard Business Integration today announced that Harvard Management Company (HMC) has gone live on its Swift ASP solution in order to achieve ISO 15022 migration. Messages are sent to and from the client's host applications, and are transformed by the ASP into ISO 15022 compliant Swift messages and routed as appropriate. The ASP service is hosted at SunGard’s data centre in Voorhees, New Jersey.
John Bergen, director of back office systems for the Harvard Management Company, says the ASP-based service eliminates the need to invest in things like additional security, hardware, and software. "This is money we’d rather allocate towards other areas of our longer-term STP initiatives, including automating and managing our global trading system."