FinTechAutomationDubai Aluminium Selects SunGard’s AvantGard for Treasury and Risk Management

Dubai Aluminium Selects SunGard’s AvantGard for Treasury and Risk Management

Dubai Aluminium (DUBAL), a large single site aluminium smelter and the industrial flagship of the United Arab Emirates (UAE), has selected SunGard’s AvantGard Treasury (Quantum) for treasury management and hedge accounting. The solution will also help DUBAL manage foreign exchange (FX), interest rate and commodity risk.

Moving from a spreadsheet-driven environment to an automated integrated solution will allow DUBAL to efficiently manage, control and report on all of its treasury activities, while helping provide increased transparency, enhanced data integrity and improved integration with internal systems. Quantum will complement DUBAL’s enterprise-wide risk management initiative through integration with SAP Exposure Management for the identification of commodity and FX exposures.

Corporate treasurers and chief risk officer (CRO) at DUBAL, Toby Shore, said: “We sought a treasury management system [TMS] to help us mitigate financial risks and address security concerns resulting from the use of spreadsheets. We chose SunGard because its system provided this as well as being easy to integrate, and also because of SunGard’s strong reputation in the Middle East. The flexible, configurable reporting capabilities of SunGard’s AvantGard Treasury (Quantum), its complete coverage of complex instruments required for hedging, and its ability to accommodate our need for SAP-integrated risk management were also deciding factors.”

Related Articles

AI can transform trade finance through better SME credit scoring

Automation AI can transform trade finance through better SME credit scoring

2w Michael Bellacosa
From moonshot to reality: AI's advances in corporate banking

Automation From moonshot to reality: AI's advances in corporate banking

3m Alenka Grealish
Digitization and the role of the digital treasurer – part 2

Automation Digitization and the role of the digital treasurer – part 2

3m Victor Penna
Burn those spreadsheets - and 4 other ways that treasurers can help their CFOs sleep better

Automation Burn those spreadsheets - and 4 other ways that treasurers can help their CFOs sleep better

3m Bob Stark
"The architecture of financial markets has changed": Stefan Bielmeier, DZ Bank

Automation "The architecture of financial markets has changed": Stefan Bielmeier, DZ Bank

4m Victoria Beckett
Digital treasury: A future state vision

Automation Digital treasury: A future state vision

4m Eric Cohen
A paperless treasury: sustainability drives efficiency

Automation A paperless treasury: sustainability drives efficiency

4m Austin Clark
Corporate banking is just like the International Space Station

Automation Corporate banking is just like the International Space Station

4m Avik Dasgupta