One of the top 5 Global Banks selects Intellect OneTREASURY to scale up its North America operations
After setting the high standards in 20+ countries in Europe for one of the top 5 global banks, Intellect OneTREASURY’s America story begins with a bang. OneTREASURY, brings together 16 legal entities of this global bank (New York and Canada) on a single platform, covering cash flows of USD 270 Billion+ across 10 currencies.
This was done replacing a leading provider’s existing platform. This marquee bank, goes live with Intellect OneTREASURY’s front and mid office solution for Money Markets and Fixed Income.
Key areas of Pain (pre implementation)
- Absence of a consolidated Risk Sheet across multi - currencies and branches - Not an Integrated View
- Position Transfer were not Real Time - Used to take one hour
- Manual intervention for squaring of positions - Not Real Time
- Maintaining disparate systems resulting in higher TCO and increased operational complexity
- Inability to quickly meet new reporting demands of regulators
- Inability to respond to changing market/ client demands
- Bringing down Deal Booking speed to less than a second.
- Enables trader to view risk exposures in real time.
- Over 96% reduction in position consolidation time
- Real time on-line visibility of positions and risk
- Maintaining a single integrated risk and treasury solution, reduces TCO and operational complexity.
- With auto squaring , rules can be pre-defined and offsetting trades can be automatically executed to close-out out positions.
- Transaction by transaction, intraday liquidity monitoring by real time risk monitors.
Incoming interfaces -
Trades - Global loans(Flexcube), PO2/OLI, FI Sweeps, Corp Sweeps Rates - Hamper, Credit limits Enables the multi channel trade flows from disparate portals (corporate clients) to Intellect OneTREASURY seamlessly
Outgoing interfaces -
QLM (BO), Simpliciti/RTR (Risk projections) Improved STP to back office and risk management real time.
- GROUP TREASURER can see compliance and liquidity by grouping the sensitivity and liquidity into single currency across all the legal entities. Improved Operational Efficiency, compliance with on-line limits monitoring and profitability across branches
- New system supported historical cash flow analysis and liquidity stress testing leading to more accurate forecasting
- Instantaneous Position Transfers
- Automated Auto Squaring of Positions with User Definable Rule engine for Auto Squaring to close-out positions without wasting any time.
- Call Notice Feature will help manage better the customer Call accounts hence facilitating better liquidity and interest on Call accounts.
- Blotter for Fed Funds will help manage better the liquidity in Federal Reserve NOSTRO.
- Facility of Bulk booking of deals including bulk amendments help initiate bulk actions from spreadsheets
- Pre Termination without splitting of Trades
- Auto refresh of Risk Blotter results in time saving and facilitates timely decision making.
- Combined Risk Sheet helps better compliance to the regulatory and cash flow limits
- Templates for Deal Booking help book: Enables the dealer to book trades in 2 clicks eliminating manual errors.
- Simplification of deal entry process and instantaneous transfer of positions across desks
- EOD processing time which used to be an overnight affair, drastically reduced to around 30 mins
Best Practices during Implementation
- Mimicking deal booking through the front end on migrated data, to iron out issues pre production
- Reuse of existing Data Migration Scripts/Programs
Powerfully leveraging risk for business advantage
Intellect OneTREASURY provided the client with a real-time view of position & risk related information across branches. Real-time information enables CFOs to create strategies to leverage performance across the entire balance sheet.
Accurate, timely and intelligence-driven Risk Data enhances Decision Making:
- Crisis Situations can be foreseen by analysing risk concentrations
- Improved assessment of portfolios for superior performance management
- Enables traders to proactively identify and report concern areas to top management
iRTM, the Risk, Treasury & Capital markets arm of Intellect, is proud to be running the largest Treasury in the world with zero downtime for over a decade. Adding Americas is the one of the finest bow in its quiver full of top tier clients.