Banco de Fomento Angola selects SunGard for automated matching and reconciliation

Issued by SunGard
London, UK, 12 Dec 2007

SunGard (http://www.sungard.com) today announced that Banco de Fomento Angola (Banco de Fomento) has chosen its Straight-Through Enterprise Processing (STeP) intelliMATCH solution for real-time matching and reconciliation of its international cash transactions.

The solution will deliver enhanced transaction management of cash, securities, confirmations, energy trades and system messages, while helping to reduce operational risk exposure through the early identification and pre-settlement resolution of errors. (www.sungard.com/STeP).

IntelliMATCH will automate a previously manual function, helping to increase speed, efficiency, accuracy and reduce financial risk through exception reporting. The solution will also provide the bank with a robust matching engine and common platform for the reconciliation of all its international cash transactions.

Eduardo Clemente, head of accounting at Banco de Fomento, said: "We chose SunGard predominantly for its strong reputation as a robust matching and exception tool. Following a recommendation from an existing SunGard customer, we quickly realised SunGard matched perfectly with our requirements for a user-friendly solution, from an established vendor with the ability to provide local support."

Tom King, president of SunGard's STeP business, said: "We are delighted to welcome Banco de Fomento as an intelliMATCH customer. We now have eight customers in Africa who are all supported by our regional office in Johannesburg, as well as by our global network of technical and functional experts. Our commitment to Banco de Fomento is further illustrated through the provision of Portuguese-speaking consultants. As we see an increasing trend in developing markets towards automation of transaction processing, we are dedicated to delivering best-of-breed software and expertise to help our customers achieve the highest level of efficiency within their business."

Banco de Fomento Angola

Banco de Fomento Angola is a wholly owned subsidiary of Banco Portugues de Investimento (BPI) Group, Portugal's fifth largest financial organisation. Headquartered in Luanda, Banco de Fomento is the largest private financial group in Angola and one of the leading entities in the financial sector, with a market share of 22%. It serves more than 350 000 retail and wholesale customers, through a multi-channel distribution network comprising 89 branches nationwide. With assets of more than $3 billion and more than 1 500 employees, the bank has all the capabilities to support foreign investment in Angola.

STeP

STeP SunGard's STeP provides a suite of business solutions that helps deliver Straight-Through Enterprise Processing (STeP) to banks, investment managers, broker dealers, and corporations. STeP connects customers' internal applications and business processes with external services and networks, while managing the operations around their business processes. STeP solutions include MINT for SWIFTNet and financial messaging integration; intelliSUITE for reconciliation, exception processing, transaction research, and liquidity management; and Trade Management for post trade automation.

SunGard

With annual revenue exceeding $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25 000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.

Trademark Information: SunGard, the SunGard logo, IntelliMATCH and STeP are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the US and other countries. All other trade names are trademarks or registered trademarks of their respective holders.

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