LONDON â 1 March, 2005: SunGard Treasury Systems, an operating group of SunGard (NYSE:SDS) and Danske Bank today announced a strategic partnership that will provide SunGardâs customers with direct access, from their AvantGard treasury management systems, to Danske Bankâs cash management services. AvantGard-ETX provides a secure real-time connection to help customers benefit from Internet-enabled straight-through processing.
AvantGard-ETX helps corporations, in association with its exchange partners, to achieve a holistic view of all global cash positions in real time. The integration of the AvantGard-ETX secure messaging network and Danske Bankâs significant range of cash management services will help treasurers in the Nordic region to achieve the efficiency of Internet-enabled straight-through processing for a range of payment and reporting services.
Peter Storgaard, head of global cash management at Danske Bank, said, "This relationship will help ensure that we are able to provide our mutual customers with an efficient and convenient method of accessing vital account data and cash management services. It will help ensure that their treasury needs are met both today and into the future."
A.P. MÃ¸ller-Maersk, the largest corporate business in Denmark with 2003 net revenues in excess of DKK 157 billion, and a customer of Danske Bank, uses the AvantGard-Quantum treasury management system and has recently gone live with AvantGard-ETX to send electronic payment instructions directly to Danske Bank. The application will also be used to collect intra-day cash data. Torben Winther, Maerskâs director of treasury management, said, "The direct connectivity to banks, avoiding bank workstations and browsers, gives us immediate decision support capabilities."
Martin Boyd, executive vice president EMEA, SunGard Treasury Systems, said, "This is an excellent opportunity for our customers both in the Nordic region and internationally to help simplify their cash management processes through the direct integration that AvantGard-ETX provides with Danske Bankâs cash management services and electronic banking system, Business online."