SunGard, a financial solutions provider, has announced that DeVry, a provider of educational services, has licensed its STeP intelliMATCH solution for cash reconciliation processing.
The solution complements the firms existing use of SunGard’s AvantGard Treasury solution. SunGard’s STeP intelliMATCH will provide DeVry with a robust matching engine and common platform for the reconciliation of multiple instruments – including bank account transactions, general ledger movements, OTC and ETC derivatives, securities positions and movements, and trade confirmations and advices.
Tom King, president of SunGard’s STeP business, said: With STeP IntelliMATCH, we are able to help customers to reduce risk and significantly decrease their overheads. The automation offered by the solution helps eliminate the errors commonly associated with manual data-checking and lets customers redeploy staff to focus on other operational issues. By combining the use of intelliMATCH with our treasury solutions, customers like DeVry can process a growing number of transactions, without seeing a linear increase in operational costs.