Dexia Bank Belgium went live today on Aleri Liquidity Management System (LMS) to support its cash and liquidity management across all entities and currencies.
All central bank and nostro accounts are managed in LMS. The project really started in November 2006, and this first critical phase so took 7.5 months with a small team to get achieved.
Aleri LMS, the first enterprise-class commercial application to leverage event stream processing technology, automates time-consuming, manual processes to allow institutions to focus on cost-effective liquidity strategies that reduce operational costs while enhancing their competitive position.
Mr Johan Evenepoel, Global Head of Repo, Cash & Liquidity, Dexia Group declared: "We are implementing a new liquidity framework at Dexia Group level .To calculate the consolidated liquidity ratios, we need to be able to collect important data, such as the liquidity and securities positions, from the different Dexia entities into one central system. The idea of a LMS system was launched mid-2006; we received several proposals but the Aleri project, in combination with the positive feedback from Barclays Bank, London which implemented the system in 2005 made our choice quite easy. The implementation was realized within a few months …rather unique in an IT environment. The system is also a first important step towards cash pooling, a new functionality of the Target 2 system of the ECB."
Mr Hervé Lefèvre, sales director at Aleri said: "Many banks are convinced of the need to upgrade their liquidity management infrastructure but are concerned by the time and by the cost that such an enterprise project could take. Dexia Bank Belgium is now the third project where our LMS product has been installed very quickly, requiring a project team of 3.5 to 5 persons, and being completely non intrusive to existing systems. In fact, in all projects, the banks systems have changed during or after the installation of LMS, as one would expect, and this without disruption to the installation of LMS or to the new or upgraded systems."
Mr Philippe Thonnard, Head of Control and Support, Financial Markkets, Dexia Bank Belgium, commented "As a former IT project Manager I've been looking to this 1st implementation phase with my "technical eyes". I've been positively impressed by the way the small joined Dexia-Aleri team has been able to implement the software within our environment within a small period of time. From a user perspective, we did not face a lot of problem during the test phase; so we are now looking to the future without any fear. And finally, from a Dexia SA perspective, this 1st implementation is an important step for the harmonization of our IT systems within the different Operations Centers (mainly Belgium, France and Luxembourg) giving all Liquidity Managers the same integrated view on the Worlwide Liquidity capacity of the group."