Generali Vie, a French life insurance company that is part of the Generali Group, has gone live on SunGard’s IntelliMatch Operational Control solution to manage its cash and securities reconciliations from a single, centralized enterprise platform.
The solution will help reduce operational costs, minimize risk, and improve efficiency for a growing volume of transactions.
Replacing a legacy system and associated manual processes, SunGard’s IntelliMatch Operational Control reconciles cash and securities transactions from Generalie Vie’s general ledger and custody systems respectively against its nostro and securities accounts. By automating and centralizing its reconciliations, Generali Vie can quickly on-board other transaction types onto the platform, such as system-to-system reconciliations, as required.
Christophe Privat, Management Information Systems, Generali Vie, said: “We aim to offer high-quality service to our customers and a key element of this commitment is ensuring we remain operationally efficient. We regard SunGard as a valued strategic vendor that is capable of supporting our long-term enterprise reconciliation requirements. We plan to progressively add further reconciliations onto SunGard’s IntelliMatch Operational Control and thus benefit from economies of scale and minimized operational costs. It also gives us the ability to manage significant transaction volumes without requiring additional resources.”
Jennifer Hanes, chief operating officer, SunGard’s IntelliMatch business, said: “Financial services organizations can benefit from working with a single strategic solutions vendor that is capable of meeting multiple financial technology requirements across the enterprise. SunGard’s IntelliMatch Operational Control helps organizations reduce costs by rationalizing multiple systems and eliminating manual processes.”
In addition to Generali Vie’s implementation of IntelliMatch Operational Control, Generali Group uses other SunGard solutions across its businesses, including iWorks Prophet for insurance actuarial modeling and enterprise risk management, and Ambit Treasury Management for bank treasury management.