More NewsStandard Bank to Reduce Risk with Thunderhead

Standard Bank to Reduce Risk with Thunderhead

Standard Bank is implementing Thunderhead NOW, the enterprise communications platform, to reduce operational risk across its derivative trade confirmation process. Thunderhead NOW will be deployed to both streamline the production of over-the-counter (OTC) derivative trade confirmations and to ensure tighter control over the entire trade confirmation process. Thunderhead’s platform will be used across Standard Bank’s product range, including equity, credit, interest rate, energy and foreign exchange (FX) derivatives.

Thunderhead NOW is a rules-based solution that automates the process for producing trade confirmation documentation, thereby ensuring that it conforms to industry standards, such as ISDA, and reducing the risk of human error. The Thunderhead software also maintains a detailed audit trail of changes to trade confirmations, providing much greater transparency and accountability for every trade. It will be integrated with WSI (Xceptor) technology, a confirmation tracking workflow tool which is also being deployed at Standard Bank. Trades will be fed in real time from front office systems into Xceptor. The Thunderhead NOW platform is then triggered to automatically generate the appropriate confirmation.

Thunderhead’s technology is being rolled out to users in the UK later this year. Standard Bank expects to implement the NOW software to its international franchise in the future.

Comments are closed.

Subscribe to get your daily business insights

Whitepapers & Resources

2021 Transaction Banking Services Survey
Banking

2021 Transaction Banking Services Survey

2y
CGI Transaction Banking Survey 2020

CGI Transaction Banking Survey 2020

4y
TIS Sanction Screening Survey Report
Payments

TIS Sanction Screening Survey Report

5y
Enhancing your strategic position: Digitalization in Treasury
Payments

Enhancing your strategic position: Digitalization in Treasury

5y
Netting: An Immersive Guide to Global Reconciliation

Netting: An Immersive Guide to Global Reconciliation

5y