Serisys Solutions, a leading Asian provider of IT solutions and services, announced today that it is teaming up with Surecomp, a leading provider of wholesale banking solutions for the financial services community, to offer Surecomp's treasury confirmation matching solution, Perfect Match, to financial institutions across Asia Pacific.
There is an ever growing need to reduce settlement risk, streamline treasury activities, and maximize staff efficiencies all while increasing per-trade profit. Financial institutions have acquired or built home-grown automated confirmation matching software to address such needs. Such software, however, has often proved unsuccessful in today's market environment, typically addressing only limited types of processing. For example it often ignores business activities such as exceptions handling, investigations and corporate trades and does not support market changes and business growth. Many legacy confirmation matching systems still in operation lack a rich set of features required for today's increasingly competitive business market.
Financial regulators are becoming more critical of institutions whose internal systems and operating procedures are unable to support today's rapidly evolving environment.
A highly innovative solution widely used by European and US banks; Perfect Match provides extensive depth of coverage - from foreign exchange / money market, derivatives, swaps, and precious metals to continuous linked settlement (CLS), non-deliverable forwards (NDFs), and banknotes. Supporting financial institutions, corporate trades and SWIFT and non-SWIFT trades, the user-friendly, highly integrated Perfect Match offers a wide range of proactive confirmation matching features such as:
- Calculated and matched broker commissions
- Real-time reporting exceptions based processing
- Integrated investigations
- Complete on-line audit trail of all trade activities
- On-line history
"We are very excited about partnering with Serisys," said Joel Koschitzky, Surecomp Chairman. "During our search for an Asian-based partner to expand Perfect Match's market presence, it quickly became clear that Serisys was the obvious cchoice with its financial services expertise and focus."
"Despite the turbulent times, banks will continue to invest in core infrastructure. Bankers today want solutions that will handle the major current market changes in corporate treasury, while providing an excellent ROI. Serisys is the right partner in Asia to answer their questions."
Tim Marsh, Chairman of Serisys, responded: "We are delighted to partner with Surecomp. Serisys is excited about introducing the benefits of Perfect Match, and expand its reach across all sectors of the Asian financial services market. Perfect Match complements the Serisys suite of products and services, and creates synergies between our two companies.
"In this uncertain global economy, more and more banks are asking important questions such as: what kind of business model is appropriate in a volatile uncertain market, and what is the right software strategy to use when making decisions in this challenging environment.
"There are unique opportunities available for banks to turn today's current economic fluctuations into an advantage, and Serisys is well positioned to work with the Asian banks to achieve these advantages".