United Bank Limited (UBL), one of the largest privately-held banks in Pakistan, has selected SunGard's Ambit Treasury Management* solution to help it consolidate multiple systems across its treasury business onto a single platform.
The bank will benefit from a fully integrated treasury management system that will facilitate increased end-to-end processing efficiency, improved reporting and control, and better management of risk across the enterprise.
UBL selected Ambit Treasury Management to help automate and standardize processes across the bank's treasury in Pakistan and international locations across the Middle East. UBL is an established customer of SunGard's retail banking solutions, Ambit Core Banking, Ambit Customer Service Platform and Ambit Loan Origination, and the selection of Ambit Treasury Management has further strengthened the bank's technology relationship with SunGard. The project will be implemented in two phases covering a wide range of asset classes including foreign exchange, interest rate derivatives, money market, fixed income and equities.
Aameer Karachiwalla group executive, retail banking at UBL, said, "We regard SunGard as a trusted partner that clearly understands the challenges our business faces. The Ambit Treasury Management solution fits our requirements for an integrated treasury management system. By developing a long term relationship with SunGard through the deployment of the Ambit solutions suite, we will build an excellent foundation from which to offer better service to clients while helping increase our operational efficiency and reducing operational costs. The Ambit Treasury Management solution provides a scalable and proven infrastructure for all front-, middle- and back- office treasury functions that delivers a consistent view of our business and supports improved risk management."
Andrew Woods, executive vice president, treasury, for SunGard's Ambit Corporate Banking business unit, said, "An integrated treasury management solution from SunGard will help UBL eliminate unnecessary systems and manual processes and achieve best practices across its treasury function. Ambit Treasury Management consolidates enterprisrprise information onto a single platform to offer a real-time view of risk and cash positions. The solution helps banks, such as UBL, provide a comprehensive service to their corporate clients and helps bank treasurers increase efficiency, reduce cost and better manage capital."
* Ambit Treasury Management is a solution suite for tier 2-4 banking organizations, and incorporates SunGard's Sierra solution.