17 August 2017
visit www.avoka.com

Sampo Bank switches FX and money market ops to ADP

14 April 2003  |  3109 views  |  0 Sampo Bank switches FX and money market ops to ADP

Sampo Bank has been named as the first client for ADP/OMR's new business process outsourcing solution, deployed at the Finnish bank's foreign exchange and money market operations.

The service is based on ADP's front-to-back office trade processing system TradeThru. Trades are sent electronically from the bank's Helsinki headquarters to ADP's data centre where they are processed using TradeThru system.

As part of the service the bank receives confirmations via mail, fax or Swift, confirmation matching, Swift payment processing, static data maintenance, process monitoring and incident resolution.

Reijo Jokelainen, SVP and head of operations, Sampo Bank, says: "It is a big step for a bank to outsource its operations, and it was important for us that ADP is an independent provider, not another bank."

ADP says the bank is achieving an STP rate in excess of 97% since switching to the BPO platform.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

ADP Power Securities Systems releases ASP version of PowerClear

ADP Power Securities Systems releases ASP version of PowerClear

01 April 2003  |  2800 views  |  0 comments
Edward Jones extends client services with ADP Wilco's Tarot

Edward Jones extends client services with ADP Wilco's Tarot

26 March 2003  |  2839 views  |  0 comments
Babcock named president ADP/ICS; two new signings for ADP/SIS

Babcock named president ADP/ICS; two new signings for ADP/SIS

24 March 2003  |  2728 views  |  0 comments
ADP revises forecasts downwards

ADP revises forecasts downwards

13 March 2003  |  2635 views  |  0 comments
Dresdner Kleinwort Wasserstein renews ADP outsourcing contract

Dresdner Kleinwort Wasserstein renews ADP outsourcing contract

10 March 2003  |  3448 views  |  0 comments
ADP's ProxyEdge helps firms comply with SEC disclosure rules

ADP's ProxyEdge helps firms comply with SEC disclosure rules

07 March 2003  |  3424 views  |  0 comments
ADP to offer single stock futures processing

ADP to offer single stock futures processing

04 March 2003  |  4690 views  |  0 comments
Wilco International rebrands as ADP Wilco

Wilco International rebrands as ADP Wilco

17 February 2003  |  3473 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.niceactimize.comdownload the paper now

Top topics

Most viewed Most shared
Coinbase raises $100mCoinbase raises $100m
10362 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9747 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9641 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8564 views comments | 6 tweets | 21 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8046 views comments | 1 tweets | 2 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...
London

Find your next job