Gresham reports doubling in cash reporting value
01 May 2007 | 1872 views | 0
Source: Gresham Computing
Gresham Computing plc, the real-time financial solutions specialist, today announced a doubling of transaction volumes since it assumed primary responsibility for the Clareti Cash Reporting solution (formerly known as Real Time Nostro) from Cable & Wireless 12 months ago. The value of transactions available from the hub has also grown considerably with the company recording an average daily transaction value worth half a trillion US dollars in March 2007.
Gresham's Clareti Cash Reporting Service is a global solution that enables both banks and corporates to improve their cash and liquidity management. It does this by providing account holders with a single consolidated view of their cross border payments, including balance and transaction information, in multiple currencies, in real time. With an understanding of intra-day cash positions and payments information, banks and corporates are better able to manage cash, funding and borrowing decisions. The hub-based service is available to all banks and their corporate customers either through a secure internet browser or direct data feed.
In the last year since Clareti Cash Reporting was re-launched, the service has achieved a number of significant milestones. Transaction volumes have doubled and six of the world's top 10 banks are now providers, users or both.
Gresham's Clareti Cash Reporting software also achieved SWIFTNet Ready Real Time Account Information Provider accreditation in 2006 recognising the company's continued commitment to messaging standards from SWIFT, the industry-owned cooperative and supplier of secure, standardised messaging services and interface software to the banking community.
Gresham has continued to expand the service capabilities of Clareti Cash Reporting with new software releases. Product enhancements include direct access for corporate customers; integration support for new provider banks; implementation support for SWIFTNet Cash Reporting push and pull modes, including push over FileAct; rapid browser response times for very large record sets; and extended automated monitoring and fail-over capabilities for even higher availability.
"It has taken some years for the momentum to build, but with these high transaction volumes and values, I am pleased to say that we are increasingly becoming a core part of a growing number of banks' infrastructure. To put the value of transactions available fromle from our seervice in context, ansactions available fromle from our seervice in context, the global average daily value of foreign exchange transactions in 2006 was around US$ 5.5 trillion and in its last fiscal year the U.S. Government spent a total of about US$2.6 trillion.
What the participating banks now enjoy is an accurate and reliable service from which they can make better business decisions. The recent growth in the availability of data on the service presents an increasingly high quality solution to banks' growing needs for multi-currency, multi-bank real-time information.
Our move into providing this data to the corporate market arises from strong market demand because organisations of all sizes have a very clear requirement to know how much cash they have, who has paid them, who is going to pay them and when. Gresham is able to provide a granular and aggregated approach that allows corporate customers to see incoming overseas payments and remittances as they flow through the banking system," said Andrew Walton-Green, CEO of Gresham Computing.
The Clareti Cash Reporting Service is an integral part of Gresham's suite of solutions that cover payments, cash management and distribution of real-time information. Aimed at banks and their corporate customers, Clareti solutions enable customers to better understand their transactions, their customers and their businesses while improving connections between people, the systems they use, and the businesses they work for.