Fiserv selects Omgeo ProtoColl
04 August 2010 Brookfield
Image: Shutterstock
Fiserv, Inc. today announced that it will utilise Omgeo ProtoColl as its dynamic collateral management solution. Using Omgeo ProtoColl, new and existing Fiserv customers on the TradeFlowTM platform will be able to automate their collateral management process, handle numerous asset classes and increase visibility into credit exposure to mitigate counterparty risk.
"Organisations are struggling when it comes to understanding where all of their collateral resides, particularly when it comes to repossessions," said Paul Thomas, managing director, Investment Services, Fiserv. "We've seen intense pressure on the repossession market because of increased use of collateral agreements. By automating the collateral management process, clients will have a holistic view of their positions, which is invaluable to achieving the key goal of minimizing counterparty risk. Using Omgeo ProtoColl, Fiserv clients will have the ability to quickly identify discrepancies and highlight which details must be resolved between existing counterparties."
Omgeo ProtoColl is designed with a sophisticated and configurable workflow to help streamline the collateral process. Its intuitive dashboard enables users to manage all tasks including notifications and exceptions from a single central location. Additionally, the extensive reporting capability ensures users are fully informed and deadlines are met.
"Today, a limited number of institutions are using automated collateral management solutions. Most existing processes have largely been manual via spreadsheets, increasing operational risk and the likelihood of errors," said Tim Keady, managing director, global sales and relationship management, Omgeo. "With access to a flexible, out-of-the-box solution such as Omgeo ProtoColl, Fiserv clients will be able to handle a surplus of collateral with increased accuracy and efficiency."
"Organisations are struggling when it comes to understanding where all of their collateral resides, particularly when it comes to repossessions," said Paul Thomas, managing director, Investment Services, Fiserv. "We've seen intense pressure on the repossession market because of increased use of collateral agreements. By automating the collateral management process, clients will have a holistic view of their positions, which is invaluable to achieving the key goal of minimizing counterparty risk. Using Omgeo ProtoColl, Fiserv clients will have the ability to quickly identify discrepancies and highlight which details must be resolved between existing counterparties."
Omgeo ProtoColl is designed with a sophisticated and configurable workflow to help streamline the collateral process. Its intuitive dashboard enables users to manage all tasks including notifications and exceptions from a single central location. Additionally, the extensive reporting capability ensures users are fully informed and deadlines are met.
"Today, a limited number of institutions are using automated collateral management solutions. Most existing processes have largely been manual via spreadsheets, increasing operational risk and the likelihood of errors," said Tim Keady, managing director, global sales and relationship management, Omgeo. "With access to a flexible, out-of-the-box solution such as Omgeo ProtoColl, Fiserv clients will be able to handle a surplus of collateral with increased accuracy and efficiency."
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