Nordea Bank Combines with SunGard to Deliver STP Treasury
SunGard’s AvantGard and Nordea Bank have teamed up to provide Nordea’s customers with direct access from SunGard’s AvantGard Treasury solution to Nordea Bank’s treasury management services using AvantGard Treasury Bank Connectivity (TBC).
By combining the AvantGard TBC solution with Nordea’s treasury management services and a secure messaging network, SunGard and Nordea are able to offer Internet-enabled straight-through processing (STP) across a range of payment and reporting services.
Northern Europe energy group DONG Energy uses SunGard’s AvantGard Treasury and retrieves balance reporting for their Nordea accounts in Norway, Finland, Sweden, Poland, Germany and the UK through AvantGard Treasury. The company is about to go live with treasury payments in the same six countries.
Morten Buchgreitz, senior vice president of group treasury at DONG Energy, said: “The end-to-end straight-through processing significantly reduces our operational risk and helps enhance transparency. In an environment where the importance of compliance grows day-by-day this is very important to us.”