Firco Continuity for Liquidity Manager

Press release

Paris, 4th December 2008 - On Monday, September 15th 2008, a German bank transferred $426M to Lehman Brothers, after the investment bank announced that it was filing for bankruptcy protection.

The bank’s payment systems had already prepared the transfer on the previous Friday. It was then automatically processed on the scheduled swap expiration date, after Lehman’s collapse.

How certain are you that an incident like this cannot happen to your own institution?

How quickly can you respond to stop transactions to certain counterparties?

Can you detect and stop transactions on the fly, regardless of the location or branch of the counterparties, before these payments leave your institution?

Or is the safety of your institution’s money dependent on hard-coded rules in legacy systems and on operators’ knowledge?

Liquidity and Treasury managers of all Financial Institutions and Corporates currently face counterparty risk on a scale not seen since 1929.  In the wake of the daily news feed over the last months, you can no longer rely on your experience or credit ratings. Counterparty risk assessment  needs to be updated on an hourly basis to remain relevant and coherent with the latest developments in the financial markets.

Sword FircoSoft’s best-of-breed filtering solution can help you address this liquidity management risk.
With its easy to deploy, market-proven filtering architecture, the Firco Continuity solution for Liquidity Managers offers:
- Easy updating and fast implementation of the list of suspicious counterparties
- Instant processing response time with minimal operational impact
- Real-time workflow management
- Web-based alerts-review case manager
- Market-leading fuzzy matching algorithm used by over 650 financial institution sites in the world
- More than 14 years of data filtering expertise
                                                                                                                                                                                                                              

About Sword FircoSoft
Over 335 financial institutions in more than 55 countries (representing over 650 sites) are already benefiting from the #1 watch list filtering solution* provided by Sword FircoSoft. 

Sword FircoSoft, provider of multi-alphabet ready filtering solutions, also offers best-in-class straight through processing and business intelligence solutions.

For more information about the advantages that Sword FircoSoft can offer your organisation, please visit www.sword-fircosoft.com.
* ranking by Celent since 2003