A leading Bank in Peru selects Intellect® Custody to improve market standing

An end-to-end solution for custodian back office supporting multiple asset classes

  • Real-time information access
  • Customer ‘self-service’ capability
  • Cost savings from operational efficiencies, data center consolidation and high STP rates
  • Auto-repair mechanism enabling > 96% STP
  • Parameterized and algorithm driven trade matching engine
  • Multi-asset, multi-lingual and multi-currency solution
  • Can be configured to meet statutory requirements and regulations
  • Rule-driven flexible Fee Billing engine

The client is the third largest bank in Peru with over 170 branches and service outlets. It offers banking services in the areas of Trade Finance, Cash Management, Corporate Finance and Treasury Services.

The client lost market share due to excessive reliance on manual operations and the lack of a consolidated Custody system. The existing legacy systems suffered from data-integrity and data-corruption challenges. It required SWIFT connectivity capabilities to reduce costs and risks, increase visibility and control over working capital and improve Straight-through Processing (STP) rates.

It required an end-to-end Custody system that could support high-volume transactions, trade tracking and settlement across all instrument types. The system should also have the capability to support end-to-end Corporate Actions cycle for a wide range of events. The Custody solution should have multi-lingual capabilities to support the client’s multi-country rollout plans.

Intellect deployed its Custody solution that provides an integrated webbased Custody platform. The solution is cost-effective to maintain and helps the client achieve high STP rates thereby reducing dependence on manual processes. The implementation provided support for Equities, Debts, Warrants and Mutual Funds.

The solution enhanced the client’s SWIFT connectivity capabilities by adding support for SWIFT 15022 messaging standards that are used in securities trading. The implementation also added support for end-to-end Corporate Actions lifecycle management for a wide range of events. The multi-lingual capabilities of the solution allowed the client to cater to the needs of international clients and to penetrate new market segments.

About iRTM
DRIVE DECISION MAKING. DELIVER VALUE FOR MONEY

iRTM comprises of three comprehensive solutions catering to the needs in Treasury, Liquidity Risk and Capital Markets domains. The world's largest treasury operations is run over iRTM's solution. iRTM solutions are designed to deliver extreme performance, ensure regulatory compliance and provide an unmatched customer experience. With 68 implementations across 90 countries, we are a brand which progressive firms can rely on to power their banking & capital markets businesses.