Source: SunGard ePI
SunGard (NYSE:SDS) today announced that its STeP intelliMATCH, an automated reconciliation and exception processing solution, has been awarded two SWIFTReady Gold labels for the reconciliation of both securities and cash instruments.
SunGard's intelliMATCH EP, the predecessor solution to STeP intelliMATCH, held the prestigious title for five consecutive years.
SWIFT annually recognizes solutions from independent software vendors according to their compliance with SWIFT standards, their efficient integration with the SWIFT environment, and their contribution to improving industry straight-through processing (STP).
STeP intelliMATCH is part of SunGard's STeP intelliSUITE of solutions for managing the transaction lifecycle. STeP intelliMATCH provides a robust matching engine and a common platform for the reconciliation of multiple instruments including cash accounts, securities positions and movements, and trade confirmations and advices. It identifies, researches, and resolves exceptions automatically within one platform, helping to improve operational efficiency and STP. STeP intelliMATCH helps an institution to track the lifecycle of a transaction intra-day and in real-time, thus helping enhance a firm's cash and liquidity management.
SWIFT has clear and specific criteria that are linked to its Silver and Gold labels for each industry segment. These criteria reflect the capability of a product to provide automation in a SWIFT environment. An additional requirement is that the product be used in a live environment by at least five customers.
Commenting on the accreditation, Allan Spalding, business manager, partner solutions at SWIFT, said, "We are pleased to award the SWIFTReady Gold label to SunGard for STeP intelliMATCH in our cash and securities reconciliation categories. This demonstrates SunGard's commitment to developing solutions that integrate efficiently within a SWIFT environment and help improve STP for the benefit of our customers."
Tom King, president of SunGard's STeP business unit, said, "We are pleased that we have received the elite SWIFT Ready Gold label for these two categories since 1999. With the release of the STeP Platform, we underline the importance of providing our customers with best-of-breed reconciliation and exception processing solutions that help to reduce risk and improve STP rates."