BoNY joins Gresham cash reporting service

Source: Gresham Computing

Gresham Computing plc, the real-time financial solutions provider, today announced that The Bank of New York has agreed to provide data to the Clareti Cash Reporting Service, formerly known as Cable & Wireless Real Time Nostro (RTN).

Upon customer approval, The Bank of New York will provide data on US Dollar and currency accounts held by its international client base throughout the world.

The global community of major banks supporting the Clareti cash Reporting Service continues to grow. The total number of banks that have now agreed to provide data to the service has increased to 22.

In a separate move, SunGard today announced that it will integrate its Real-time Liquidity Management solution with Gresham Computing plc's Clareti Cash Reporting Service (formerly known as Cable & Wireless Real Time Nostro) to offer value-added liquidity management and reconciliation services to its customers.

Gresham Computing's Clareti Cash Reporting Service provides correspondent banks a consolidated view of international payment transactions intra-day. SunGard's Real-time Liquidity Management solution will use Gresham Computing's Clareti Cash Reporting Service streamed Nostro account information from correspondent banks to help enable intra-day reconciliation against institutions’ internal records, thereby helping to provide a real-time, validated view of liquidity.

The integration of these two solutions will help financial institutions and corporates benefit from real-time reconciliation and liquidity management. The solution will provide a validated view of liquidity to help enable better intra-day funding decisions.

Andrew Walton-Green, chief executive officer of Gresham Computing plc, stated, "The significant capital outlay involved in re-engineering back-office systems to deal with real-time international payment data has meant that only the largest banks have invested in the changes required. This new service-based offering will help small and medium institutions, as well as corporates, to leverage the global banking community's investment in SWIFTNet Cash Reporting."

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