SS&C Technologies (Nasdaq:SSNC), a global provider of investment and financial software-enabled services and software, today announced that Zürcher Kantonalbank (ZKB), the largest cantonal bank and leading financial services provider in the greater Zurich area, has expanded its relationship with SS&C and gone live on Recon™ to improve operational efficiency and reduce organizational risk.
ZKB is deploying Recon across multiple internal systems in the front- and back-office to automate transaction and position reconciliations. This not only eliminates time-consuming and error-prone manual processes but also provides a clear audit trail and an improved break resolution workflow.
"After an extensive search and successful proof of concept, SS&C's Recon proved to be the best fit for our business," said Dr. Markus Bader, Market Risk Controller, ZKB. "SS&C personnel understood our requirements and Recon's ease of use and rapid deployment provided us with a quick return on our investment."
"We are pleased to deliver a solution that provides a measurable return on investment for our client," said David Reid, Senior Vice President and Managing Director, International, SS&C Technologies. "Having had an existing relationship with ZKB for many years, we are delighted that the organization has turned to SS&C to support its reconciliation needs. Automating their process will help to deliver a faster ROI and we are delighted to play a key role in their success."
ZKB's relationship with SS&C began in 2003 when it went live with TradeThru™, SS&C's integrated trading and treasury SaaS platform. TradeThru is used by ZKB to process their interest rate and currency derivatives settlements, including interest and cross currency swaps, FRA's, Swaptions, and vanilla and exotic options such as barrier options, no-touch / one-touch options, and digitals, among other types.