One of the world’s leading insurance groups, Royal & Sun Alliance (RSA), has selected Wall Street Systems (Wallstreet), a provider of treasury, trading and settlement solutions and services, to implement a treasury solution. Wallstreet will deploy the hosted City Financials solution to empower RSA’s treasury in their cash management, foreign exchange (FX), and treasury risk management activities.
RSA operates a relatively decentralised treasury structure, a common feature of most general insurers, and the purchase of a new treasury management system will be the catalyst to centralise the information flow around treasury activities.
RSA chose Wallstreet’s solution because it enables it to manage a complex operation on a single, reliable platform with strong reporting and integration tools. The implementation will enable RSA to move from a largely manual to an automated process across its global treasury operation, which will deliver significant efficiency benefits, improving straight-through processing (STP), and empowering RSA’s risk management.
Critically, Wallstreet’s City Financials solution moves RSA on to a system that both simplifies and expands its treasury capabilities and prepares RSA for future developments in treasury management technology and standards.
Daniel Ferguson, treasury manager, RSA, said: “We are excited to be working with Wallstreet and impressed with the flexibility of the City Financials platform.”
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