Danske Bank extends SunGard intelliMatch implementation
13 December 2004 | 1777 views | 0
Source: SunGard eProcess Intelligence
SunGard eProcess Intelligence, an operating unit of SunGard (NYSE:SDS), today announced that Danske Bank, one of Denmark's largest financial institutions, has extended its use of intelliMATCH for nostro account reconciliation.
Danske Bank, a customer of SunGard since 2000, now uses intelliMATCH to reconcile over 50,000 transactions per day across its 900 nostro accounts. The bank achieves 90-95% auto-matching rates and has optimized the solution for high volume and intra-day performance. By implementing intelliMATCH across its back office departments in Denmark as well as abroad, Danske Bank has consistent processes and improved control over transactions. Over the past four years, the bank has been able to process higher volumes at a lower cost, and has reduced operational risk through intra-day reconciliation for improved liquidity management.
Kirsten Terkelsen, vice president at Danske Bank, commented, "Our users find intelliMATCH very easy to use, and we're pleased with the efficiencies we've gained since its implementation. Our decision to extend the use of intelliMATCH stems from the benefits we've seen in terms of cost and risk reduction, and improved efficiencies and control."
Matt Mandalinci, president of SunGard eProcess Intelligence, commented, "Danske Bank's extension of intelliMATCH underlines our commitment to providing best-of-breed transaction management solutions that meet our customers' growing needs. We're pleased that our customers are seeing benefits from using SunGard solutions and are continuing to invest in new applications."