SNS Financial Markets, the treasury and capital markets arm of SNS Reaal, which resides under SNS Bank, has gone live on SunGard’s Ambit Treasury Management solution. The solution helps the bank manage its treasury back office operations, including finance and control, accounting and cash management, on a single platform. It also helps SNS Bank increase operational efficiency, improve enterprise-wide risk management, and enhance reporting and transparency.
SNS Bank has completed the first phase of the project to migrate its back office treasury operations onto Ambit Treasury Management, which now manages all treasury instruments. The application service provider (ASP)-based solution also provides full support for SWIFT messaging for payments and confirmations, CLS processing, Target 2 payments and collateral management. SNS Bank is now working with SunGard on the second phase of the project to migrate its front office and risk management operations onto the Ambit Treasury Management Risk module, which will provide the bank with a centralised platform to manage its entire front-to-back office treasury management activity.
Bob Goedhart, director of operations, SNS Financial Markets, said: “SunGard’s Ambit Treasury Management solution provides the bank with the flexibility to manage all front- middle and back office operations on a single platform. Rationalising the number of systems used to support our treasury activity helps us increase end-to-end processing efficiency, gain improved reporting and control, and better manage risk across the enterprise. We have benefited from reduced operating costs thanks to the availability of a hosted solution, and we are confident that Ambit Treasury Management can accommodate future growth in transaction volumes and the range of asset classes that we support.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.