|
AN OVERVIEW |
 |
|
At ACE we believe that change is constant. Our business and technologies are continually
evolving to keep up with the demands of a challenging yet exciting global marketplace.
Every day we empower ourselves to meet these challenges we face to ensure that our
custo-mers needs are served. In this way we will remain a world leader in AI (Artificial
Intelligence) based financial software solu-tions. We believe in empowerment and
the freedom to act on behalf of our customers. |
|
|
|
|
 |
|
PRESS RELEASE |
 |
|
ACE Software Solutions, Inc. |
|
News Release |
|
Credit Agricole STP Rates Exceed 98% with Application of ACE Software’s Financial
Messaging Solutions |
|
|
|
Sibos, Sydney, Australia 9th October 2006
- ACE Software Solutions, provider of fully integrated Straight Through Processing
(STP) enabled payments and transaction processing solutions for the banking sector, today announced Credit Agricole, one of the largest banks in the world by shareholder
equity, has improved STP rates in its regional banking central processing division
to over 98%. By adopting a suite of ACE Software Solutions’ message management products,
Credit Agricole also increased daily message traffic by 157%.
|
|
|
|
“ACE was willing to meet all our complex requirements across our various Caisse
Regionales (regional banks), replacing a complicated and cumbersome routing system
while achieving STP rates in excess of 98%,” said Michel Azard, Head of IT Project
Management at Credit Agricole.
|
|
|
|
Credit Agricole needed a solution that would overcome an existing complex artificial
intelligence based routing system, support a drive to improve customer service throughout
the banking system, and prepare for regulatory changes in cross-border bank payments
and liquidity management driven by the EU’s SEPA and ECB’s TARGET2 initiatives.
STP rates within the central processing division were previously running at 90%,
while message traffic rose from 7,000 to 18,000 daily.
|
|
|
|
Credit Agricole opted for ACE Software Solutions’s STP Enhancer™ , STP Analyser™
and EAI Designer.™
|
|
|
|
“We needed a proven,
scalable and interoperable technology that will meet the demands
of this rapidly changing operational, commercial and regulatory environment,” said
Azard. “ACE was co-operative and accommodative, incorporating all our business and
technical requirements, while offering pro-active solutions to solve our business
issues.”
|
|
|
|
“We were very confident in ACE Software’s ability, particularly with regard to resolving
issues with our existing artificial intelligence routing technology, because ACE’s
STP Toolkit™ had been running alongside it for eight years,” according to Michel
Azard.
|
|
|
|
“Credit Agricole’s successful implementation is testament to the value of long-term
relationships in banking technology, and the flexibility of ACE Software’s product
range in dealing with very complex messaging environments. In addition, this platform enables our continued collaboration as the bank prepares to meet the multiple challenges
of SEPA and TARGET2,” said ACE Software CEO Parth Desai.
|
|
|
|
About ACE Software Solutions |
|
|
|
ACE Software Solutions provides integrated, end-to-end Straight Through Processing
(STP) solutions based on advanced AI (Artificial Intelligence) techniques. The company’s
Pelican™ solution offers fully integrated real-time payments, liquidity and cash
management. Clients include financial institutions worldwide including BNP Paribas,
Credit Suisse, Deutsche Bank, RBC-Dexia Financial Group and American Express. ACE
Software Solutions is headquartered in New Jersey with regional offices in London,
Brussels and Mumbai. For further information, please visit www.acesw.com
|
|
|
|
About Credit Agricole
|
|
|
|
For further information, please visit www.credit-agricole.fr
|
|
|
|
|
|
|
|
|