1st May 2007 07:03
Gresham Computing PLC01 May 2007 News Release GRESHAM CLARETI CASH REPORTING SERVICE RECORDS DAILY TRANSACTION VOLUMES WORTH $0.5 TRILLION LONDON - 1 May, 2007: Gresham Computing plc, the real-time financial solutionsspecialist, today announced a doubling of transaction volumes since it assumedprimary responsibility for the Clareti Cash Reporting solution (formerly knownas Real Time Nostro) from Cable & Wireless 12 months ago. The value oftransactions available from the hub has also grown considerably with the companyrecording an average daily transaction value worth half a trillion US dollars inMarch 2007. Gresham's Clareti Cash Reporting Service is a global solution that enables bothbanks and corporates to improve their cash and liquidity management. It doesthis by providing account holders with a single consolidated view of their crossborder payments, including balance and transaction information, in multiplecurrencies, in real time. With an understanding of intra-day cash positions andpayments information, banks and corporates are better able to manage cash,funding and borrowing decisions. The hub-based service is available to all banksand their corporate customers either through a secure internet browser or directdata feed. In the last year since Clareti Cash Reporting was re-launched, the service hasachieved a number of significant milestones. Transaction volumes have doubledand six of the world's top 10 banks are now providers, users or both. Gresham's Clareti Cash Reporting software also achieved SWIFTNet Ready Real TimeAccount Information Provider accreditation in 2006 recognising the company'scontinued commitment to messaging standards from SWIFT, the industry-ownedcooperative and supplier of secure, standardised messaging services andinterface software to the banking community Gresham has continued to expand the service capabilities of Clareti CashReporting with new software releases. Product enhancements include direct accessfor corporate customers; integration support for new provider banks;implementation support for SWIFTNet Cash Reporting push and pull modes,including push over FileAct; rapid browser response times for very large recordsets; and extended automated monitoring and fail-over capabilities for evenhigher availability "It has taken some years for the momentum to build, but with these hightransaction volumes and values, I am pleased to say that we are increasinglybecoming a core part of a growing number of banks' infrastructure. To put thevalue of transactions available from our service in context, the global averagedaily value of foreign exchange transactions in 2006 was around US$ 5.5 trillionand in its last fiscal year the U.S. Government spent a total of about US$2.6trillion. What the participating banks now enjoy is an accurate and reliable service fromwhich they can make better business decisions. The recent growth in theavailability of data on the service presents an increasingly high qualitysolution to banks' growing needs for multi-currency, multi-bank real-timeinformation. Our move into providing this data to the corporate market arises from strongmarket demand because organisations of all sizes have a very clear requirementto know how much cash they have, who has paid them, who is going to pay them andwhen. Gresham is able to provide a granular and aggregated approach that allowscorporate customers to see incoming overseas payments and remittances as theyflow through the banking system," said Andrew Walton-Green, CEO of GreshamComputing. The Clareti Cash Reporting Service is an integral part of Gresham's suite ofsolutions that cover payments, cash management and distribution of real-timeinformation. Aimed at banks and their corporate customers, Clareti solutionsenable customers to better understand their transactions, their customers andtheir businesses while improving connections between people, the systems theyuse, and the businesses they work for. About Gresham Computing plc Gresham Computing specialises in delivering real-time financial solutions.Gresham develops and implements software solutions for banks and corporates, aswell as integration and storage solutions. Many of the Global 500 choose Greshamto help improve their competitive edge and bottom line performance in some ofthe most challenging market sectors. Gresham Computing plc is listed on theLondon Stock Exchange (GHT) and has offices in Europe, North America and AsiaPacific. For more information, please contact: Gresham Computing plc +44 (0)20 7653 0200Andrew Walton-Green, CEO Financial Dynamics +44 (0)20 7831 3113James Melville-Ross / Matt Dixon Ends This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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