1st Apr 2005 09:54
Gresham Computing PLC01 April 2005 For immediate release: 1 April 2005 Gresham Computing plc ("Gresham") BANK OF AMERICA SIGNS TO PROVIDE DATA INTO CABLE & WIRELESS REAL TIME NOSTRO 1 April 2005 Gresham has received an update from Cable & Wireless concerning Real TimeNostro, and is pleased to announce that Bank of America, one of the world'slargest financial institutions, is to provide data to Cable & Wireless Real TimeNostro (RTN) as a new platform for the provision of intra day nostro accountinformation to its financial sector clients. This brings the number of leadingfinancial institutions who have agreed to provide data into Cable & Wireless RTNto eleven. Bank of America will be providing data on its US dollar accounts and all othermajor currencies served by its international branch network. The bank will useCable & Wireless RTN to expand the delivery of account information to itsinstitutional clients worldwide who subscribe to the service. Once Bank of America's data goes live on the system, nostro account informationwill be transmitted in real time, over SWIFTNet, to the Cable & Wireless RTNplatform. Subscribers to the service benefit from having access to real timenostro account data from multiple providers across all currencies through asingle interface. This data can be accessed through a browser interface, or canbe pushed out directly into a bank's cash management or reconciliation system.This allows subscriber banks to better manage their intra-day cash flows andimprove the efficiency of their back office operations. The Cable & Wireless update includes the following quote from Karen Healy,Senior Vice President, Head of FI / FX Product Management, Global TreasuryServices, Bank of America: "We recognise our clients' growing need for efficientdelivery channels, providing real time information and improving thereconciliation process. We want to expand our existing suite of real timeinformation streams and are pleased to join with Cable & Wireless in thisexciting initiative." Andrew Walton-Green, Chief Executive Officer of Gresham, commented: "Progress with Cable & Wireless RTN remains encouraging and the addition of Bankof America, the world's 4th largest bank1, as a data provider to the servicedemonstrates the continued momentum and industry support for Cable & WirelessRTN. The news brings the total number of the "top 10" world banks1 that haveagreed to provide data to the service to 4, and the total number that haveagreed to provide data to the service to 11." A full copy of the Cable & Wireless update will in due course be available fromthe Cable & Wireless Real Time Nostro website www.cw.com/rtn and will also beavailable from the Gresham Computing plc website at www.gresham-computing.com Notes 1 Measured by Capital (Source: The Banker: "Top 1000 World Banks at 31 December2003", July 2004). - Ends - For further information, please contact: Gresham Computing plc +44 (0)20 7653 0200 Andrew Walton-Green Financial Dynamics +44 (0)207 831 3113 James Melville-Ross Cass Helstrip About Cable & Wireless Real Time Nostro Developed in close conjunction with the banking community, Cable & Wireless RealTime Nostro (Cable & Wireless RTN) offers institutions involved with foreignexchange and other international transactions a new way to share multi-bank,multi-currency 'Nostro' account data in real-time. This is in direct responseto the banks' need to improve liquidity management, reduce risk, increaseoperational efficiencies and respond to customer demand. Cable & Wireless RTN is a subscription-based information service, providingNostro agents and account holders with a single view of their Nostro positionsin each currency, across bank accounts, irrespective of time-zones and systems,to help them manage their cash flows intra-day, rather than after the market hasclosed. Cable & Wireless RTN is a shared repository of information, hosted and managedcentrally in Cable & Wireless' hosting facilities and available over an internetbrowser or via an application programme interface over SWIFTNet. Software fromGresham Computing normalises and aggregates the data into industry-standard XMLfor ready integration with the banks' existing systems. The provision of data to the Cable & Wireless RTN service does not generaterevenue from the banks providing that data. Revenue is generated from userssubscribing to the service in order to access the data. About Gresham Computing plc Gresham develops and implements software for banking, integration and storage.Many of the world's most successful banks and corporations choose from Gresham'srange of innovative solutions to help improve their competitive edge and bottomline performance. Gresham Computing plc is listed on the London Stock Exchange (GHT) and hasoffices throughout the world. The company's web site iswww.gresham-computing.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
GHT.L