UBS Warburg London has implemented i-flex Solution's client level asset servicing (Clas) module from the vendor's flagship Flexcube product.
The Clas module, a cash, current accounting and payment solution, replaced UBS Warburg's legacy branch accounting system (Bas).
I-flex says the Flexcube application integrates with existing operational infrastructure to create the Clas modular layer, which rationalises and standardises cash and current accounting. Customer accounts, balances, payments, interest accruals and forward value transactions have been successfully converted from Bas to Clas, which runs on an Oracle database. The custom implementation, which included development of complex interfaces and enhancements to the processing and payments engine, took eighteen months to complete.
Gary Bullock, UBS Warburg's global head of operations, comments: "The aim of the Clas project is to achieve a smooth transition to a modern system for reduced operational costs and enhanced levels of straight-through processing."
He says the new system will help the bank service rapid volume growth over a standard global platform.
The vendor says UBS Warburg is planning to roll the system out to businesses in other locations.