SNS Financial Markets, the treasury and capital markets arm of SNS Reaal, which resides under SNS Bank NV, has gone live on SunGard's AmbitTreasury Management solution.
The solution helps the bank manage its treasury back-office operations, including finance and control, accounting and cash management, on a single platform. It also helps SNS Bank increase operational efficiency, improve enterprise-wide risk management and enhance reporting and transparency.
SNS Bank has completed the first phase of the project to migrate its back-office treasury operations onto Ambit Treasury Management, which now manages all treasury instruments. The ASP-based solution also provides full support for SWIFT messaging for payments and confirmations, CLS processing, Target2 payments and collateral management. SNS Bank is now working with SunGard on the second phase of the project to migrate its front-office and risk management operations onto the Ambit Treasury Management Risk module, which will provide the bank with a centralized platform to manage its entire front-to-back-office treasury management activity.
Bob Goedhart, director of operations, SNS Financial Markets, said, "SunGard's Ambit Treasury Management solution provides the bank with the flexibility to manage all front-, middle- and back-office operations on a single platform. Rationalizing the number of systems used to support our treasury activity helps us increase end-to-end processing efficiency, gain improved reporting and control, and better manage risk across the enterprise. We have benefited from reduced operating costs thanks to the availability of a hosted solution, and we are confident that Ambit Treasury Management can accommodate future growth in transaction volumes and the range of asset classes that we support."
Andrew Woods, executive vice president, treasury for SunGard's Ambit Corporate Banking business unit, said, "Ambit Treasury Management helps bank treasurers take a more holistic and strategic approach to managing risk across the enterprise. Using an integrated and scalable front-to-back office solution with straight-through processing (STP) for cash, liquidquidity and risk management helps banks, like SNS, achieve higher levels of automation and lower transaction costs."