Q-DBS, a developer and provider of database management services and systems primarily aimed at Mexico’s financial and corporate sectors, announced today that it is teaming up with Surecomp, a leading provider of wholesale banking solutions for the financial services community, to offer Surecomp’s treasury confirmation matching solution, Perfect Match, to Mexican financial institutions.
The agreement with Q-DBS extends Surecomp’s presence in Latin America, and particularly in Mexico, which is increasingly serving as a bridge for financial and commercial activity between North and South America.
The need to reduce settlement risk, streamline treasury activities, and maximize staff efficiencies, while increasing per-trade profit, is growing continuously. As a result, financial institutions have opted to acquire or build automated confirmation matching software. Such software, however, has been quite unsuccessful in the current market environment, since it typically addresses only limited types of processing. For example, it often ignores business activities like exceptions handling, investigations and corporate trades, and does not support market changes and business growth.
Meanwhile, many legacy confirmation matching systems still in operation lack a rich set of features required in today’s highly competitive business market. Financial regulators, in response, have become increasingly critical of institutions whose internal systems and operating procedures cannot support this rapidly evolving environment.
Surecomp’s Perfect Match offers banks the best of both worlds. A highly innovative solution widely used by European and US banks, Perfect Match provides extensive depth of coverage – from foreign exchange/money market, derivatives, swaps, and precious metals to continuous linked settlement (CLS), non-deliverable forwards (NDFs), and banknotes. Supporting financial institutions, corporate trades and SWIFT and non-SWIFT trades, the user-friendly, highly integrated Perfect Match also offers a wide range of proactive confirmation matching features such as:
- Calculated and matched broker commissions
- Real-time reporting exceptions-based processing
- Integrated investigations
- Comprehensive on-line audit trail of all trade activity
- On-line history
“The agreement with Q-DBS is a natural development for Surecomp given our extensive presence and success in South America till now,” said Joel Koschitzky, Surecomp Chairman. “In searching for a suitable Latin American partner, we recognized that Q-DBS is an IT industry pioneer with a leading market position in Mexico. As such, the firm offers us the right course to pursue Perfect Match’s strategic advancement throughout both the country and region.”
“During these turbulent times, which are being particularly felt in countries like Mexico, banks are looking for tried and trusted solutions, based on best practices, that will handle major current market changes in corporate treasury while providing an excellent ROI,” Joel Koschitzky added. “We are confident that Q-DBS is the right partner and Perfect Match is the right solution to help banks address these challenges.”
“We are delighted to partner with Surecomp,” said Jose Luis Melgarejo Frutos, Director General, Q-DBS. “With globalization and the need for national and international compliance on the rise, Mexican banks increasingly require automated systems like Perfect Match. And while Surecomp’s solution is quite sophisticated, it is also very easy to install and operate, making it a perfect fit for many of our customers throughout the country.”
Q-DBS is a developer and provider of database management services and systems primarily aimed at Mexico’s financial and corporate sectors. Established in 2004, Q-DBS maintains a proven track record delivering a wide range of professional software development services. For additional information, visit www.qdbs.com.mx
About Perfect Match
Available in two versions – installed or ASP – Perfect Match is the trading department’s first line of protection against trade inaccuracy by aiding financial institutions in their efforts to reduce and control settlement risk.
Surecomp is a leading provider of wholesale banking solutions for the financial services community. Established in 1987, Surecomp is a market pioneer with a proven track record delivering innovative solutions to major banks and financial services providers worldwide. With a global network of regional offices and state-of-the-art development centers, Surecomp successfully supports hundreds of installations in over 60 countries. Surecomp’s integrated portfolio of trade finance, supply chain solutions and reconciliation solutions streamlines the transaction lifecycle to minimize costs and maximize profits. For additional information, visitwww.surecomp.com.