SEB has signed an agreement with Polaris Software Lab Ltd, to invest in a new liquidity management platform. The investment will further strengthen SEB's client offering, securing a continued world-class global Cash Management delivery.
The Polaris Liquidity Management System offers an open architecture and its flexibility will enhance the time to market for new innovative solutions to SEB's clients. Advanced features in the areas of cash concentration, national and cross border pooling, as well as multi-currency solutions will enable SEB to continue offering cutting edge liquidity solutions.
"The commitment to invest in a new "Best of Breed" liquidity platform strengthens our foundation for the future and ensures that SEB will continue to offer a world-class and globally harmonised delivery," says Erik Zingmark, Head of Cash Management at SEB.
"Our solution for liquidity management has gone through a rigorous assessment at SEB, and we have once again proved that we are world leaders in this market space. This is our 6th major liquidity platform implementation with a leading European bank," says Bikash Mathur, EVP & Head at Polaris Europe.
This is the start of a long-term cooperation between SEB and Polaris. The investment is part of SEB's strategic commitment in the cash management area and commences at year-end.