KBC selects SunGard for securities processing

The Belgian bank will implement intelliMATCH in its head office in Brussels to reconcile cash and securities in its securities back-office for both retail and capital markets transactions. This will enable it to import Swift messages as well as its own files.

Swift - the Society for Worldwide Interbank Financial Telecommunication - is an industry-owned consortium providing banks, broker-dealers and investment managers with a standardised, secure messaging protocol. It also provides the financial services industry with market and IT infrastructures in payments, treasury, derivatives, securities and trade services.

KBC will also be able to develop customised matching rules to support its unique business needs.

“We chose intelliMATCH because it met most of our requirements for a best-of-breed trade-matching solution,” said Walter Mees, senior manager of KBC’s custody department.

“We feel that the application will be easily self-managed and self-supported with little intervention from SunGard eProcess Intelligence - another important factor in the decision to invest in intelliMATCH,” he added.

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