Pictet, one of Switzerland's largest private banks, has selected SunGard's Ambit Messaging Hub to support its messaging requirements.
Ambit Messaging Hub will help Pictet promote centralisation, streamline messaging processes and reduce costs by eliminating the maintenance and overhead of multiple dedicated interfaces.
Ambit Messaging Hub will integrate with Pictet's core banking solution, and provide connectivity to banks and financial institutions for its payments and securities transactions. The messaging hub, which is based on open messaging standards, will help Pictet drive efficiencies by offering connectivity to key financial networks such as SWIFT, SIC and euroSIC as well as the private network, AmbitNet, which facilitates intrabank SWIFT messaging between branches free of cost. Pictet already uses SunGard's Ambit Mint to support its messaging.
Michel Peytregnet, head of Core Banking & Finance applications at Pictet, said, "We based our decision to implement Ambit Messaging Hub on SunGard's strong reputation and our positive experience with Ambit Mint. Ambit Messaging Hub's ability to offer functional integration with our in-house systems and its ease of connectivity with SWIFT and other financial networks was also a key consideration for us. We have plans to move SWIFTNet Funds in the near future from Ambit Mint to Ambit Messaging Hub and are happy that this service is fully supported. We also like the Web-based interface of Ambit Messaging Hub, because it is business oriented, user-centric and will allow for a quick and easy deployment."
Hans Cobben, executive vice president, global messaging solutions for SunGard's Ambit Messaging business unit, said, "Many financial institutions today, such as Pictet, are actively seeking ways to adapt to new standards and services, while minimising changes to their core infrastructure. Ambit Messaging Hub can help by providing a cost-effective means of bridging the gap between existing back-office systems and outbound channels.The consolidated platform is based on open standards (SOA, J2EE, XML, MTMX) giving ban banks the tools to keep current with evolving messaging standards and offer new services to their clients."