National Bank of Greece live with SunGard matching and reconciliation system

Source: SunGard

National Bank of Greece has gone live with SunGard's Ambit intelliMATCH solution for the real-time matching and reconciliation of its cash transactions and confirmations.

The solution delivers enhanced business process management capabilities and helps to reduce operational risk exposure through the early identification and pre-settlement resolution of errors.

National Bank of Greece, the largest in the country, is a long-standing customer of SunGard and already uses the company's Adaptiv, Ambit BancWare and Reech solutions for front- and back-office market risk management, capital calculations and Basel II compliance. These solutions have been delivered to the bank together with SunGard's local partner, PROFILE. Going live with the intelliMATCH solution has helped the bank to effectively reconcile the cash nostro accounts and confirmations of its correspondent banking activity, while helping it to increase speed, accuracy and reduce financial risk through exception reporting.

A spokesperson at the National Bank of Greece, said, "We are very satisfied with the performance of SunGard's matching and reconciliation solution. Having replaced an existing system that was recognized to fall short of our expectations, our foreign exchange and money market transactions are now more efficiently controlled, we can effectively manage our SWIFT messaging and we are confident that the scalable solution can evolve over time with our growing requirements."

Wolfgang Prinz, group vice president, transaction and processing solutions in SunGard's banks and corporations business, commented: "National Bank of Greece is a valued SunGard customer and we are pleased to add Ambit intelliMATCH to its portfolio of SunGard solutions. Through the support of our local partner PROFILE, we have successfully provided the bank with best-of-breed software, local expertise and the experience of a global organization."

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