With regulations concerning capital requirements becoming an increasingly pressing issue for banks, banking solutions provider Fundtech and Accenture, a consulting company, have teamed up to develop new liquidity management tools for banks. The two firms announced yesterday that they would be teaming up to deliver Fundtech's Global Liquidity and Risk Management solution, as well as develop new diagnostic tolls, process models and operational approaches for banks in different regulatory environments around the world.
The partnership should give banks greater visibility into the movement and position of their cash during the course of the day to help meet new capital requirements, a joint statement by the two companies said. "New regulations, market pressures and competitive challenges make liquidity management a crucial area of focus for banks. Banks need to have an exact view of their cash positions at all times, be able to forecast cash requirements quickly and deal with numerous accounts in multiple countries," Massimo Proverbio, the global managing director for Accenture's payment services, said in the statement.
The deal will combine Accenture's expertise in liquidity management and analytics with Fundtech's solution that helps banks gain the visibility they need to meet their intra-day liquidity needs, Fundtech CEO Reuven Ben Menachem said.
The two companies said they will hold a joint presentation today at the Sibos 2012 conference in Osaka, Japan where they will offer more details about the partnership and offer their insights on the liquidity challenges that banks are facing today.
Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio