Arqaam Capital Opts for SunGard’s Ambit Reconciliation Solution to Reduce Risk

Arqaam Capital, an investment banking firm in the Middle East, has selected SunGard's Ambit Reconciliation platform to help improve its efficiency and mitigate risk.

According to SunGard, its Ambit Reconciliation product will help provide matching coverage for cash and treasury including cash positions, FX, nostro accounts and internal accounts as well as for securities including positions, movements, confirmations and statements across all asset classes at Arqaam Capital.

This will help streamline operations and increase cost savings by identifying costly exceptions early on. Ambit Reconciliation will also provide a dashboard for consolidated actionable views across all asset classes, business lines and geographies, which will help reduce operational risk and provide greater control and increased governance.

Wissam Khoury, managing director of SunGard Financial Systems for the Middle East region, says financial institutions in the Middle East are experiencing exceptional growth in transaction volumes and diversity of instrument types, which is impacting their reconciliation processes.