News
Commerzbank AG
Commerzbank uses Synergy in most of their foreign branch operations globally. Initially installed in 2005, Synergy is used to manage DDA and Nostro accounts, bookings and statements; outbound SWIFT payments, statements, confirmations and messages; inbound SWIFT payments and messages; fixed-term and call loans and deposits; customer output in local language and mail format; customers and limit overrides; and settlement and accounting. Integrated with numerous peripheral applications, SWIFT and General Ledger, Synergy is processing millions of transactions per month and forms an integral part of their foreign branch IT landscape.
Commerzbank uses Synergy’s Trade Finance customer front-end within their corporate portal globally, to capture and manage corporate customer letters of credit, guarantees and collections business. Commerzbank has licensed Synergy’s Trade Finance back office to manage their letters of credit, open accounts, guarantees, collections, financing and risk syndication business.
In 2010, Commerzbank agreed to license two new modules, Foreign Exchange and Limits, for development and implementation. Foreign Exchange will manage spot, forward, swap, OTC, NDF and time options; Limits will manage overall customer position and risk, via fee-based facilities, with real-time risk checking.
Rabobank
Rabobank uses Synergy in their operations in North America since 2007. Synergy captures and manages their customers, accounts and bookings, generating SWIFT statements output and processing thousands of transactions each month. Synergy is an integral part of Rabobank’s core banking solution in the Americas.
