Accenture and Fundtech Team to Help Banks Strengthen Liquidity Management
Accenture and Fundtech have teamed to help banks improve global liquidity management in response to Basel III requirements and changing economic conditions.Accenture will work with Fundtech to deliver its Global Liquidity & Risk Management solution and jointly develop new diagnostic tools, process models, and operational approaches for banks across Europe, North America and Asia.
“New regulations, market pressures and competitive challenges make liquidity management a crucial area of focus for banks,” said Massimo Proverbio, global managing director, Accenture Payments Services. “Banks need to have an exact view of their cash positions at all times, be able to forecast cash requirements quickly and deal with numerous accounts in multiple countries. Accenture’s and Fundtech’s strong track records in this area represent an unmatched capability that banks can benefit from to address one of the most significant operational challenges they face today.”
Accenture and Fundtech have helped implement liquidity management solutions for major banks globally. Together, the two companies will offer services and solutions designed to optimize operational control, visibility, and forecasting in their global intra-day liquidity management.
According to Fundtech CEO Reuven Ben Menachem: “Fundtech and Accenture offer the market a powerful combination – Accenture’s well-established liquidity management and analytics expertise with Fundtech’s experience in deploying advanced systems that help banks manage their intra-day liquidity needs. We are delighted to work with Accenture to provide banks with the tools they need to better operate in this challenging business environment.”
Fundtech and Accenture will be holding a joint presentation at the upcoming Sibos 2012 conference being held in Osaka, Japan on October 31 from 12:30 – 13:30. The lunch meeting will provide insights into the current liquidity management challenges facing banks and how the Accenture-Fundtech partnership will address these issues. The meeting will be held at the Cosmosquare hotel directly across the street from the Intex convention center. For more information on the event please contact firstname.lastname@example.org or email@example.com.
Accenture serves the payments industry through Accenture Payment Services, a full-service consulting, technology and outsourcing capability. Its services are designed to bring significant improvements in core payments, card payments, digital payments, transaction banking and compliance, risk and operations. Accenture has supported more than 50 banks worldwide, including some of the largest institutions, on projects that span the payments cycle and range from traditional to multi-channel and mobile platforms.
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, our clients benefit from lower operating costs and an enhanced end-user experience through our integrated and feature-rich solutions. Our major product lines are: global and regional payments, corporate cash and liquidity management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway and mobile banking products. Fundtech offers its software through a traditional software license and a Software-as-a-Service (SaaS) contract. We operate Fundtech Connect, one of the world’s largest services bureaus that addresses the unique needs of the financial services industry. Thousands of financial institutions and companies worldwide rely on Fundtech’s innovation to improve operational efficiency, increase revenues, and provide greater competitiveness through business-to-business services. Founded in 1993, Fundtech was acquired in 2011 by GTCR, a Chicago-based private equity firm. For more information please visit http://www.fundtech.com
Accenture is a global management consulting, technology services and outsourcing company, with 257,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$27.9 billion for the fiscal year ended Aug. 31, 2012.
Sean K. Conway - Accenture, +1- 917-592-5744, firstname.lastname@example.org
George Ravich - Fundtech, +1 201 215 6530, email@example.com
Chanda Gathani - Metia Ltd. for Fundtech, +44 (0) 20 3100 3605, firstname.lastname@example.org
Binna Kim - Cognito for Fundtech, +1 646 395 6304, Binna.Kim@cognitomedia.com