Press Releases
National Bank of Greece Goes Live With SunGard’s Ambit for Automated Matching and Reconciliation
September 17, 2008 — Vienna, Austria
National Bank of Greece has gone live with SunGard’s Ambit intelliMATCH solution for the real-time matching and reconciliation of its cash transactions and confirmations. The solution delivers enhanced business process management capabilities and helps to reduce operational risk exposure through the early identification and pre-settlement resolution of errors. (www.sungard.com/STeP).
National Bank of Greece, the largest in the country, is a long-standing customer of SunGard and already uses the company’s Adaptiv, Ambit BancWare and Reech solutions for front- and back-office market risk management, capital calculations and Basel II compliance. These solutions have been delivered to the bank together with SunGard’s local partner, PROFILE. Going live with the intelliMATCH solution has helped the bank to effectively reconcile the cash nostro accounts and confirmations of its correspondent banking activity, while helping it to increase speed, accuracy and reduce financial risk through exception reporting.
A spokesperson at the National Bank of Greece, said, “We are very satisfied with the performance of SunGard’s matching and reconciliation solution. Having replaced an existing system that was recognized to fall short of our expectations, our foreign exchange and money market transactions are now more efficiently controlled, we can effectively manage our SWIFT messaging and we are confident that the scalable solution can evolve over time with our growing requirements.”
Wolfgang Prinz, group vice president, transaction and processing solutions in SunGard’s banks and corporations business, commented: “National Bank of Greece is a valued SunGard customer and we are pleased to add Ambit intelliMATCH to its portfolio of SunGard solutions. Through the support of our local partner PROFILE, we have successfully provided the bank with best-of-breed software, local expertise and the experience of a global organization.”
About National Bank of Greece
Founded in 1841 as a commercial bank, National Bank of Greece, the oldest and largest among Greek banks, heads the strongest financial group in the country. It boasts a dynamic profile internationally, particularly in Southeastern Europe and the Eastern Mediterranean. The NBG Group provides a full range of financial products and services that meet the constantly changing needs of corporate customers and private individuals, including investment banking services, brokerage, insurance, asset management, leasing and factoring. The Bank's branch and ATM network is the largest in Greece. Having reaffirmed its leading position in the Greek market, the Bank is further modernizing its operations, backed by investment in new technology, so as to better serve its customers and enhance its profitability.
About Ambit
Ambit is a banking solution suite for retail, commercial and private banks. It provides banking professionals with solutions that support front-, middle- and back-office operations, as well as solutions for financial management, risk and compliance. Ambit helps banks improve customer service management, streamline business processes, comply with regulations and capture growth opportunities. For more information, visit www.sungard.com/ambit.
About SunGard
With annual revenue exceeding $5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world’s 50 largest financial services companies. Visit SunGard at www.sungard.com.
Trademark Information: SunGard, the SunGard logo, Adaptiv, Ambit, BancWare, IntelliMATCH and Reech 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.