Development Bank of Southern Africa selects Sungard for treasury management

Source: SunGard Treasury Systems

SunGard Treasury Systems, an operating group of SunGard (NYSE:SDS), today announced that The Development Bank of Southern Africa (DBSA) in Johannesburg has selected a fully integrated SunGard solution to meet its treasury and asset and liability management needs.

AvantGard and BancWare will be used by DBSA's treasury operation to help the bank in its role as a premier infrastructure development finance institution.

DBSA finances and sponsors programs and projects formulated to address the social, economic and environmental needs of the people of southern Africa thus helping improve the quality of life. Fundamental to DBSA's future success and as part of its project to re-engineer business processes for greater operational efficiency and increased automation, was the requirement for a comprehensive, fully integrated treasury management system and asset and liability management system.

Disebo Moephuli, treasurer at DBSA, said, "In order to meet our business objectives we require an integrated treasury and asset and liability management solution that can accommodate all of our requirements in liquidity risk management, credit/counterparty risk, interest rate risk and operational risk management. It is also essential that our technical partner have a proven track record and understand and share the enthusiasm for our mission. We selected SunGard because it meets all of these requirements with solution integrating AvantGard and BancWare, and we trust in SunGard as a financially strong, long-term partner that will be able to support our growth."

Central to the bank's requirements is the provision of accurate and flexible forecasting of cash flows and bank account data and, as DBSA expands its risk management and hedging activities, the ability to capture exposure information and analyse portfolios of risk. AvantGard provides the core treasury and cash management and forecasting functionality together with advanced risk management system functionality including sensitivity and scenario analysis tools and performance measurement tools. AvantGard will be fully integrated with BancWare for modeling the assets and liabilities of DBSA's balance sheet. BancWare will also provide market values and income simulation. With BancWare the bank will be able to apply various scenarios for future business and interest rate paths, helping it to maximise efficiency in terms of funding the balance sheet. The fully integrated solution will help DBSA to increase its operating efficiency by providing an automated, straight-through processing flow of on- and off-balance sheet data.

Jim Ashton, chief executive officer of SunGard's trading, treasury and risk management business, said, "Financial institutions are looking to streamline operations by moving to fewer systems and fewer suppliers. SunGard has the integrated solutions to help our customers to meet this goal. SunGard will help DBSA to achieve complete integration of front, middle and back office treasury and cash management together with comprehensive balance sheet management."

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