Mandates and payments roundup, November 1

SunGard opens a new office in Jakarta, while Sumitomo Mitsui Banking Corporation implements a regulatory reporting solution.

SunGard opens new office in Asia

Business software and information technology services provider, SunGard, has opened an office in Jakarta to support its Southeast Asia operations. This follows the opening of a new global solution centre in India earlier this year.

“Our customers in banking, wealth management, insurance and trading are demanding better risk management in response to the evolving regulatory environment,” said Tony Wong, country manager of SunGard’s Indonesia office. “Jakarta is already a hub for the SunGard global network for securities, which connects 2,000 asset managers and over 500 brokers worldwide. With our direct presence in Indonesia, we can offer local insights and a comprehensive suite of services and solutions to our customers as they grow both domestically and internationally.”

Sumitomo Mitsui Banking Corporation partners with Sofgen

International banking information technology consultancy Sofgen has won a mandate from the New York branch of Japan-based Sumitomo Mitsui Banking Corporation (SMBC). Under the partnership, SMBC will implement Sofgen’s regulatory reporting solution called Reg-Reporter.

“Many banks are still preparing and filing their regulatory reports manually,” said Vincent Raniere, global head of product sales at Sofgen. “They have not employed the use of an end-to-end solution to reduce their report preparation time, which would afford them quality time for analysing.”

According to Raniere, Sofgen’s solution automates the end-to-end generation of the reports required by regulatory agencies resulting in significant reductions of time, effort and expense.

Kyriba releases new version of its treasury management solution

Cash and treasury management solutions provider Kyriba has announced the release of Kyriba 11.1, the newest version of its treasury management software-as-a-solution (SaaS). According to Kyriba, its updated offering provides corporate clients with a more effective, proactive, faster and more secure resource to manage their treasury functions.

Kyriba 11.1 offers users new risk management capabilities, expanded market-to-market functions, increased support for scenario testing and sensitivity analysis, cash forecasting extrapolation and additional language capabilities including Chinese and Arabic.

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