RBS selects and implements Dovetail’s Intraday Cash and Liquidity Dashboard
23 October 2012
Dovetail, the provider of next generation payment services hubs, today announces that RBS has selected, implemented and gone live on the Dovetail Intraday Cash and Liquidity Dashboard. RBS, having selected the system in late 2011, went live in the summer of 2012. The system enables RBS to capture, analyse and report on real-time and historical data for intraday client balances and transactions data as well as RTGS and currency correspondent balances and transactions.
Dovetail was selected after an evaluation of multiple vendors and was seen by RBS as the only solution that was built from the ground up to handle the requirements of intraday real-time cash flow event processing. The system provides the capability to capture, match and process all cash flow events, capture full transaction level detail, handle the complex integration requirements, scale to the volumes of transactions expected as well as provide a real-time user configurable dashboard.
Commenting on the solution, Peter Lightfoot, Managing Director, Intraday Liquidity at RBS: “We selected Dovetail as they demonstrated a keen understanding of the complex and exacting requirements of the intraday environment. Having gone through a remarkably short implementation cycle, pulling in cash flow events from multiple systems across the bank, we now have a centralised, normalised data set with which to view the business as never before. We are already using the data with internal departments, external customers and in our discussions with multiple regulators. We are immensely proud of this triple win that enabled us to deliver significant internal business and customer value on the back of a necessary regulatory spend.”
Martin Coen, CEO of Dovetail commented on the news: “We are very proud that RBS, one of the largest global transaction banks, has partnered with Dovetail to deliver its market leading strategic intraday cash and liquidity platform. The capability to analyse real-time intraday cash and liquidity is increasingly important in the industry and with the publication of the Basel paper “Monitoring Indicators for Intraday Liquidity Management“, this pressure will only increase.”
RBS and Dovetail will be furthering the industry discussion on Intraday Liquidity in separate sessions at Sibos in Osaka, on the requirements of, and implementation approaches to, maximising the organisational benefit of intraday liquidity management.