Arqaam Capital Implements SunGard’s Ambit Reconciliation Solution to Help Increase Operational Efficiency and Reduce Risk
Monday, April 18, 2011
Arqaam Capital, a leading investment banking firm in the Middle
East, has selected SunGard's Ambit Reconciliation* solution to help improve
efficiency and mitigate risk across its various divisions. The
solution will help automate Arqaam's reconciliations process across
asset classes.
One of Arqaam Capital's strategic objectives is to create a
strong Middle Eastern investment bank that promotes the efficiency
and depth of capital markets in the region. SunGard's Ambit
Reconciliation solution will help provide matching coverage for
cash and treasury including cash positions, FX, nostro accounts and
internal accounts as well as for securities including positions,
movements, confirmations and statements across all asset classes.
This will help streamline operations and increase cost savings by
identifying costly exceptions early on. The solution will also
provide a dashboard for consolidated actionable views across all
asset classes, business lines and geographies, which will help
reduce operational risk and provide greater control and increased
governance.
Dennis Wijsmuller, chief operating officer of Arqaam Capital,
said, "With SunGard's Ambit Reconciliation solution, we have an
automated solution for real-time matching and reconciliation. In
addition to the impressive functionality and ease-of-use of the
solution, SunGard's support infrastructure in the Middle East was a
critical factor in our selection.
Wissam Khoury, managing director, SunGard Financial Systems,
Middle East, said, "Financial institutions in the Middle East are
experiencing exceptional growth in transaction volumes and
diversity of instrument types, which is impacting their
reconciliation process. With SunGard's Ambit Reconciliation
solution, Arqaam is putting in place a proactive strategy to
automate its reconciliation and exception management process. This
will provide the bank with a secure platform for continued growth,
while helping to increase its operational efficiency and reducing
risk."
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