Press Releases
SWIFT Elevates SunGard to Preferred Status as "Global Partner"
October 1, 2009 — New York, NY
SWIFT and SunGard announced today that SWIFT has selected SunGard as a Global Partner, the highest level of partnership in the SWIFT partner program. The announcement signifies a closer level of cooperation between the two organizations, under which they will work together to deliver unrivaled industry value to over 2,000 customers using SunGard’s AvantGard solution. Over the past year, SunGard and SWIFT have expanded their relationship to extend greater connectivity and communications options to banks and corporations.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect over 8,500 banking organizations, securities institutions and corporate customers in 209 countries. Several years ago when SWIFT opened access to corporations, SunGard took the new offering one step further by integrating connectivity to its corporate solutions for treasury and payments, and then wrapped a service bureau around the solutions.
Electronic banking systems require the integration of several different interfaces and the subsequent functional management and administration of these. This can be costly to install and maintain and can strain in-house IT resources. By leveraging a single connectivity point via AvantGard operating as a SWIFT Service Bureau, corporations can access SWIFT faster, for less cost and with increased straight-through-processing capabilities.
Corporations can also leverage SunGard to interface with the Accord for Treasury solution from SWIFT, which matches confirmations and provides exception handling results in real-time. Accord for Treasury also automatically updates the matching status to reflect subsequent corrections and cancellations to initially confirmed trades, and can be integrated with SWIFT’s Bank Account Management (eBAM) service.
Gottfried Leibbrandt, head of marketing at SWIFT, said, “We value our partnership with SunGard and are pleased to be deepening this relationship by granting SunGard the preferred status of Global Partner. Its solutions offer value-added services to the SWIFT network, helping corporations to improve management of free cash flow. SunGard’s dedication to helping foster collaboration across the financial supply chain demonstrates that our organizations have shared goals.”
Ken Dummitt, president of SunGard’s corporations business, said, “Our corporate customers are increasingly challenged by proprietary systems, protocols and connectivity options. Core to our strategy is the ability to offer our customers market neutral and vendor neutral connectivity, aimed at helping to reduce friction across the corporate commercial EcoSystem. SunGard’s AvantGard solutions help optimize liquidity and foster communication between buyers, suppliers, banks and other trading partners.”
About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect over 8,500 banking organisations, securities institutions and corporate customers in 209 countries. SWIFT enables its users to exchange automated, standardized financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards, and debate issues of mutual interest. www.swift.com.
About AvantGard
SunGard’s AvantGard is a leading liquidity management solution for corporations, insurance companies and the public sector. AvantGard provides chief financial officers and treasurers with real-time visibility into cash flows and increased operational controls around receivables, treasury and payments. AvantGard helps companies drive free cash flow and reduce inefficiencies across the EcoSystem of suppliers, buyers, banks and other trading partners. For more information, please visit http://www.sungard.com/avantgard.
About SunGard
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
Trademark Information: SunGard, the SunGard logo, and AvantGard 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.