Dovetail, the provider of next generation Payment Services Hubs, announces today that they have selected Quartet FS to help deliver high performance real-time data analysis capabilities never before seen in the back office.
As banks grapple with new regulatory and customer demands such as more stringent intraday liquidity requirements. This new capability gives business users a real-time view of vast quantities of short term cash flow data in real-time with which to manage liquidity effectively.
The Dovetail Liquidity Dashboard provides an aggregation engine which supports customers in tapping into and analysing enormous quantities of payments data from any source. This capability is enhanced with Quartet FS ActivePivot real-time, in-memory and object orientated OLAP tool. As a result, business users can interrogate their views of the bank's liquidity positions to better control intraday liquidity and counterparty credit exposure without having to rely on their IT department or software vendor to re-write or customise queries and reports.
While real-time liquidity management is offered by a number of other vendors, business users and downstream applications are often limited by the flexibility and availability of data and views. By contrast, the Dovetail Liquidity Dashboard handles mountains of data in real-time, providing drill down from user defined aggregate positions to transaction level details through a powerful, easy to use user interface as well as through real-time APIs.
According to Martin Coen, chief executive officer at Dovetail, "To date, liquidity solutions developed in-house by the banks have been fit for purpose. However, as the need for real-time liquidity data increases, many banks are finding their current solutions suffer from limitations in analysing the huge quantity of cash flow events flexibly and in real-time. Today's regulatory and business challenges require smarter and more efficient use of real-time data without the need for IT departments or vendors to recode and optimise queries. Our partnership with Quartet FS and the inclusion of ActivePivot as a component of the Dovetail Liquidity Dashboard enables us to help banks meet these challenges and prprovide real-time data analysis capabilities never before seen in a back office application."
The Dovetail Liquidity Dashboard is available as a standalone application or as a module in Dovetail's Payment Services Hub solutions. In either case the module will capture cash flow information from across the banks infrastructure to provide a holistic view of payment flows and liquidity in real-time.
Xavier Bellouard, co-founder at Quartet FS, comments, "Our agreement with Dovetail is part of Quartet FS' long-term strategy to partner with the software community to offer value-add functionality through ActivePivot. Both applications are modern and open. This enabled ActivePivot to be integrated easily as a component of the Dovetail Liquidity Dashboard to bring the solution to market in a matter of months. It has already been selected by a number of leading European banking groups. In addition to payments, we believe that ActivePivot can add value to asset and fund management solutions; in fact, to any type of solution that supports portfolio performance calculations."