Belfius Reduces Risk and Increases Back-office Trade Flexibility with Autonomy, an HP Company
Belgian bank selects Autonomy Scrittura for end-to-end post-trade management
PALO ALTO, Calif., Oct. 17, 2012 - Autonomy, an HP Company, today announced that Belfius, a leading banking and insurance institution based in Belgium, has selected Autonomy Scrittura to provide an end-to-end platform for its post-trade automation.
With Autonomy Scrittura, Belfius has a single platform that provides end-to-end management for its back-office trade confirmations. Belfius was previously using a range of disparate confirmation systems. The bank needed to consolidate these into a single system that would allow its end users to take ownership of key business processes such as template management, document generation, reporting and document management. The project helps make the bank's system more flexible, while also helping it adapt to increasing trade volumes and facilitate the onboarding of new products.
"Because we operate in an extremely fast-paced sector, we have a strategic need to reduce complication in the trading process, while still controlling the risk factors," said Johan Roels, head, Transaction Services and Organization Financial Markets, Belfius. "Autonomy Scrittura helps us cut through the complexity and reduce both our risk and costs, and gives us a single platform to meet our present and future needs."
Through the implementation of Scrittura, Belfius has been able to substantially reduce processing times for all trade types. Scrittura also has helped to mitigate risk through end-to-end management of trade documents, and has enabled end users to take control of key activities. Belfius' users directly maintain trade confirmation templates in four different languages and, with Scrittura, have been able to reduce the number of templates from more than 200 to just 75.
"Financial institutions have to operate at a dizzying speed to stay competitive, while facing ever-heightening regulatory scrutiny," said Nigel Hutchinson, senior vice president, Protect Solutions Europe, Autonomy, an HP Company. "With Scrittura's proven trade-processing capabilities, we provide the tools they need to keep pace and reduce risk, while also taking control of the total cost of ownership."
Autonomy Scrittura is designed to give financial institutions full automation and control of back-office trade confirmation processes, such as generating document templates for trades. Scrittura is powered by Autonomy's cornerstone platform, IDOL (Intelligent Data Operating Layer). IDOL can form a conceptual understanding of the meaning of information in any format and language. IDOL also provides optical character and intelligent character recognition, meaning that it can automatically match inbound and counterparty documents. This gives capital market institutions a view into all data related to trade processing activity, allowing them to reduce their own costs and comply with increasingly stringent industry regulations.
Autonomy, an HP Company, is a global leader in software that processes human information, or unstructured data, including social media, email, video, audio, text and web pages, etc. Autonomy's powerful management and analytic tools for structured information together with its ability to extract meaning in real time from all forms of information, regardless of format, is a unique tool for companies seeking to get the most out of their data. Autonomy's product portfolio helps power companies through enterprise search analytics, business process management and OEM operations. Autonomy also offers information governance solutions in areas such as eDiscovery, content management and compliance, as well as marketing solutions that help companies grow revenue, such as web content management, online marketing optimization and rich media management.
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world's largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP (NYSE: HPQ) is available at http://www.hp.com/.
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance, market share or competitive performance relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the competitive pressures faced by HP's businesses; the development and transition of new products and services (and the enhancement of existing products and services) to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its customers, suppliers and partners; the protection of HP's intellectual property assets, including intellectual property licensed from third parties; integration and other risks associated with business combination and investment transactions; the hiring and retention of key employees; assumptions related to pension and other post-retirement costs and retirement programs; the execution, timing and results of restructuring plans, including estimates and assumptions related to the cost and the anticipated benefits of implementing those plans; expectations and assumptions relating to the execution and timing of cost reduction programs and restructuring and integration plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP's Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2012 and HP's other filings with the Securities and Exchange Commission, including HP's Annual Report on Form 10-K for the fiscal year ended October 31, 2011. HP assumes no obligation and does not intend to update these forward-looking statements.
Summary: ...Scotiabank uses Scrittura Automatic Confirmations to match barcodes and document identifiers, as well as Digital Signing which allows users to stamp confirmed trades with electronic signatures and store signatures in the system. Figure 1 - Sample Scrittura Document Template Automated Regulatory Publishing...
Summary: ...investment to everyone involved in its management, while reducing risk by preventing access by anyone else,” says Beuque. Some third party financial institutions post documents to IntraLinks, a virtual data room platform. Again working with SPECTRA IT Associates, Clearwater Capital Partners now has...
Summary: ...the costs of the IT infrastructure can ultimately be reduced, and the service level of the systems can be enhanced. Implementing database archiving solution to achieve efficient database growth management After recognising that a reliable IT platform is a key factor in the competitiveness of an enterprise,...
Summary: ...for competitive advantage • Accelerated time-to-web to a single day or less by empowering business units to create their own content • Reduced complexity and improved scalability by consolidating BT.com websites around a standardized Autonomy platform “ Our next wave of IP-based telecommunications...
Summary: ...High-volume manufacturer reduces costs and unifies data backup and recovery. Because HP Autonomy takes ownership not only of the data protection and storage of server data but also the administration and management processes, ZRI’s IT staf is freed up to perform other valued activities that are strategic...
Summary: ...Frost Brown Todd LLC. • Introduced new efficiencies to bar code scanning in the circulation and tracking of physical records • Allowed the tracking of both physical and electronic records within a unified file plan • Enabled attorneys to get back to billable work more rapidly by providing file clerks...
Summary: ...Clearwater Case Study. A customized utility based on WorkSite Server with Caching reduces latency by pre-loading servers in satellite offces with documents for better performance. WorkSite Communication Server auto-fles incoming and outgoing emails into addressable workspaces, reducing email overload...
Summary: ...Streamline processes, improve customer service, minimize expenses and training Solution Autonomy Process Automation Partner Binary Office Results •Process nearly 2,000 grant proposals per year from 1,200 investigators •Reduce internal grant approval process •ROI expected in 1.5 to 2 years based...
Summary: ...cs_kaplan_singlepages_20080807 A question of trust “Moreover, from our review process which included a cost/benefit analysis, not only did we confirm that we required a robust search engine but we also concluded that adding metadata specific to each document with details such as article author, language,...
Summary: ...our auditors used to incur huge excess luggage costs as they brought the paperwork back to the offce. Now they just return with documentation on a hard drive.” Even the fnancial audit process, which has never been a major generator of paperwork, is expected to beneft through the structured indexing...
Summary: ...in total cost of ownership for both its knowledge and document management systems. The firm plans to consolidate its future content management and governance initiatives around the IDOL platform thus helping to extract better returns on investment. “We see IUS on IDOL influencing strategic initiatives...
Summary: ...web is a company’s primary source of customer leads, its web presence needs to be as impressive as the products and services it offers. This was the challenge facing Intermec, a global provider of automated data capture and mobile computing supply chain management systems. Although its websites played...
This is a small selection of the Autonomy case studies available, please visit our publications site at http://publications.autonomy.com/ for more information.
Summary: ...value resources to allow for more business transactions to take place. Scrittura enables STP and exception management of commodity derivative confirmations. Streamline middle- and back-office operations With Autonomy’s Scrittura, financial institutions can bring immediate efficiency to their middle-...
Summary: ...trades are counterparty confirmed by T+5 • 91% of trades are counterparty confirmed by T+10 • Structured trades • 55% of trades are counterparty confirmed by T+5 • 75% of trades are counterparty confirmed by T+10 •85% of brokered trades are matched with the broker on T+0 Autonomy Scrittura Autonomy’s...
Summary: ...document confguration, enabling fnancial institutions to support both vanilla and complex structured trades n Resolves trade-processing errors by automating manual processes such as routing confrmations, advises and schedules for drafting and approval; trade matching, consolidation and analysis reduce...
Summary: ...enabled trades • 90% of trades are counterparty confirmed by T+1 • 99.4% of trades are counterparty confirmed by T+5 • Paper trades (non-vanilla and noneConfirm counterparties) • 75% of trades are counterparty confirmed by T+5 • 91% of trades are counterparty confirmed by T+10 • Structured...
Summary: ...providing immediate connectivity with: • Any type of front-office trade capture platform (e.g. Murex, Calypso etc.) or back-office trade processing system • Any major electronic exchange, central trade matching platform, or utility service including DTCC Deriv/SERV Trade Information Warehouse, ICE...
Summary: ...recognized as the market leader in information access, and automation of documentation, processes and counterparty messaging for middle and back office operations in the capital markets. Autonomy GCM enables financial institutions to adapt to the increasingly complex workflow needs of middle and back...
Summary: ...the back-office trade confirmation processing of commodity derivatives, with a specific focus on the energy markets (oil, natural gas and power) but also metals, weather and freight. Scrittura Commodities brings full automation and control through a single, specialized application for all post trade operations...
Summary: ...of the Scrittura software platform, but also provides value as a stand-alone off-the-shelf component. These components can be reused in the Scrittura customers’ own applications. Interwoven’s Scrittura Software Platform Scrittura Confirmations Server (J2EE Application Server) Scrittura Custom Solutions...
Summary: ...Reusing previously approved language reduces review and approval times, and frees up high value resources to allow for more business transactions to take place. Key features Integrated user interface template manager – Seamlessly embedded into Microsoft Word, this capability provides a fully integrated...
Summary: ...Feeling Wall Street’s pain from coast to coast and around the globe, the US government has launched a historic recovery plan for the banking industry, placing a premium on mitigating disruption to everything from home ownership and credit to consumer products and transportation. The economic meltdown...
Summary: ...templates. End to End Data Certainty Once a document is generated by combining the source data with the relevant document templates any changes made to the document’s fields continue to be tracked and fed back to the source system where they can be applied as updates or made available for reconciliation....
Summary: ...the policies and contracts they sell, insurance companies are at a competitive advantage with the accelerated account initiation offered by Cardiff. Reduced Abandonment Rates By making it easier and faster to initiate a new account, Intelligent Documents reduce abandonment rates from clients who previously...
This is a small selection of the Autonomy Product Briefs available, please visit our publications site at http://publications.autonomy.com/ for more information.
Summary: ...suite of innovative solutions enables financial institutions to adapt to the increasingly complex workflow needs of middle and back office processing of non-exchange-based trades. Built to automate and manage the full lifecycle of trade documentation and operations, Scrittura solutions enable capital...
Summary: ...Queue Access Scenario A major part of any Scrittura Platform installation involves managing workloads for end users using work queues that contain work items that users must perform. This scenario is intended to show the effects of Scrittura Platform’s clustering on the time it takes an end user to...
Summary: ...can identify new cross-sell opportunities as they arise. Conclusion The new face of the legal industry presents both a challenge and an opportunity for law firms. Matter centric collaboration helps firms keep pace with such trends as consolidation, heightened competition and the desire of clients for...
Summary: ...incriminating emails. The remaining 10 percent of information lives in structured databases, such as: CRM, transactional/ERP applications, call detail records, customer purchasing history, trades, and click streams. To succeed in the new era of human information, organizations must take a holistic approach,...
Summary: ...solution for CLDs enables corporate secretaries to manage Board of Directors activities by posting calendars, meeting minutes and key documents in a secure Board of Directors WorkSpace. Instead of printing, collating and express-mailing meeting materials, the information can be posted directly to the...
Summary: ...Autonomy User Experience White Paper. • Boost efficiency • Increase productivity while at the same time cutting costs • Avoid duplication of effort • Keep employees informed and up-to-date • Reduce the cost of maintaining unstructured information within any environment • Reduce the time taken...
Summary: ...is anticipated, plans should be in pace for doing so. • Required reading. The policy ought to be required reading for all employees. A law firm may wish to place the policy in the firm’s employee handbook, have employees confirm in writing that they have read the policy, and send updates to all employees...
Summary: ...asset, the corporate record. The need for records management Business challenges have external and internal pressures. External pressures include increased global competition with reduced trade barriers and the resultant drive to increase productivity and reduce costs; the need to respond to litigation...
Summary: ...it with rich collaborative functionality. Powerful yet simple to adopt, matter centric collaboration gives users unprecedented leverage of the firm’s resources in their daily work, while laying the foundation for essential IT initiatives. As paper filing systems fall short in today’s fast paced and...
Summary: ...27 member states of the EU. Ensure more efficient & timely processing and settlement of institutional trades. Retain records regarding transactions, assets, customers, trades, employees, and internal broker-dealer systems. Govern behavior of securities firms’ registered representatives.
...
Summary: ...reduced TCO (total cost of ownership) for critical data protection needs. Are legacy approaches meeting current challenges? Traditional approaches to data protection have been to either back up all information forever, or protect only some information, some of the time. Keeping information indefinitely,...
Summary: ...intelligence. Based on the understanding of meaning, this new approach facilitates a greater competitive advantage and unlocks the value of archived content. With ACA, businesses can drive defensible legal compliance through seamless end-to-end governance processes that also give end users ‘anywhere...
This is a small selection of the Autonomy White Papers available, please visit our publications site at http://publications.autonomy.com/ for more information.
Related Case Studies
Find us on Facebook
Follow us on Twitter
See us on YouTube
Find us on LinkedIn
