Switzerland-based Bank Julius Baer has selected Fundtech's Nostroplus and Reconstar software to automate the process of monitoring its correspondent accounts and actively managing its liquidity.
The two software products are treasury management tools. Nostroplus facilitates the management of correspondent bank accounts worldwide by enabling the bank to minimise balances at both the account and currency level. Reconstar integrates with Nostroplus to support the matching and reconciliation of expected cash flows against actual payment activity.
The deal marks Fundtech's first Nostroplus and Reconstar contract win in Switzerland.
In a separate announcement, Fundtech yesterday joined Sun Microsystems iForce Community as an authorised Global Solution Provider (GSP). As a Sun GSP, Fundtech becomes a single-source provider of application software, business consultation, support and tightly integrated Sun products (servers, storage, system software and services).