BNP Paribas Selects SunGard for STP
Published Date: 7/24/01 Related Product(s): intelliMATCH intelliMATCH to provide matching and reconciliation software to
France’s largest listed banking group
LONDON, July 24, 2001 – SunGard eProcess Intelligence, an operating unit of SunGard (NYSE: SDS), today announced that BNP Paribas’ Corporate and Investment banking group (BFI), has selected SunGard’s intelliMATCH software for matching and reconciliation. SunGard eProcess Intelligence provides exception processing solutions to improve straight-through-processing rates by automating the matching, reconciliation, research, and resolution of exceptions.
BNP Paribas is France's largest listed banking group. It ranks first in France in terms of net income and fourth in Europe for stockholders' equity. It has the second-largest stock market capitalization of all euro-zone banks. BNP Paribas stands out as a truly international player in the areas of corporate banking, capital markets, international private banking, and asset management.
BNP Paribas already successfully employs SunGard eProcess Intelligence’s intelliMATCH in their Dublin, New York, London, and Singapore branches. The bank views intelliMATCH as a standard throughout the regional network due to the solution’s ability to work on either a branch or regional hub basis, allowing users supported by BNP Paribas to work centrally or remotely. New installations and extended use of intelliMATCH will begin in Tokyo and Hong Kong, together with other branches in Asia, America, and Europe.
Part of the decision to invest in SunGard’s intelliMATCH was based on the solution’s generic matching capability as well as BNP Paribas’ desire to use the same solution for cash and securities reconciliation, a key differentiator for the product.
Denis Rousseau, co-head of IT for Corporate and Investment Banking (BFI), comments, “intelliMATCH was the best system to meet our business requirements. SunGard eProcess Intelligence’s software suite provides a global standard for Nostro and securities and provides us with generic matching capabilities, as well. Another attraction to the intelliMATCH solution was the ability for us to deploy individual branch installations while moving towards a regional hub model – mirroring our own IT strategy precisely.”
David Pheasant, vice president of sales in Europe and Asia for SunGard eProcess Intelligence said, “We are delighted to partner with BNP Paribas BFI. Our philosophy is to provide flexible solutions that satisfy our customers’ needs to automate back-office processes, reducing costs and improving efficiency, customer service, and competitiveness within their operations.”
About BNP Paribas Corporate and Investment Banking Group
The combined forces of its corporate banking and capital markets businesses put BNP Paribas at the forefront in Europe and make it a major player in Asia as well as The Americas. This alliance ensures critical mass and positions the Group as a first-tier player worldwide.
BNP Paribas already holds very significant positions:
- A global approach to the world's 350 largest corporations
- International trade finance: #1 in France for export finance and documentary credit
- Media and telecommunications finance: one of the top European leaders
- Structured finance: #1 in France and #2 in the euro zone for syndicated loans
- Commodity and energy finance: one of the most respected names worldwide
- Equities: #1 in France in the secondary market and #1 worldwide for equity options traded over
the counter and for equity baskets
- Fixed income: #3 worldwide for euro-denominated issues
- Mergers & acquisitions: #1 in France for number of deals.
About SunGard eProcess Intelligence
SunGard eProcess Intelligence is a leading provider of exception processing and enterprise report management solutions. SunGard’s exception processing solutions improve straight-through processing rates by automating the matching, reconciliation, research, and resolution of exceptional electronic transactions. SunGard enterprise report management solutions provide electronic report storage for legal archiving and compliance, Web-enabled report distribution and a unique, patented report mining & business intelligence capability designed to bring report data to life. SunGard eProcess Intelligence has been providing solutions to the financial services industry for more than 15 years.
About SunGard
SunGard (NYSE: SDS) is a global leader in integrated IT solutions and eProcessing for financial services. SunGard is also the pioneer and a leading provider of high-availability infrastructure for business continuity. With annual revenues in excess of $1 billion, SunGard serves more than 20,000 clients in over 50 countries, including 47 of the World’s 50 largest financial services companies. Visit SunGard at www.sungard.com.
Trademark Information: SunGard and the SunGard logo are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders# # #
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