By: Eric Decker
Every day, global banks disburse hundreds of millions of dollars to investors directly or via the Depository Trust & Clearing Corporation (DTCC). The typical process involves manually matching the obligations of bond issuers with amounts due to their investors. These processes are extremely labor intensive and often result in costly mismatching errors. The overnight cost of paying the incorrect party and expense of retrieving funds after late discovery can result in huge and unnecessary financial exposure. The mismatching risk is compounded when proper procedures are not in place to catch these errors. In addition, an intensive manual intraday matching process has a negative impact on an institution’s DTCC payment scorecard results, which are shared with investors and participants.
Avoid exposing your operations to financial and reputational risk.
The Global Debt Manager (GDM) Match from SS&C is an exception-based approach to managing debt service invoices. It helps you to manage unpaid items in priority order and review summaries of outstanding items and issuer payment performance. GDM Match automatically proposes matches based on complex client-defined matching tolerances. It tracks partial payments, reports on high-risk open items, and categorizes cases by location, product, and currency, providing unparalleled operational control.
GDM Match is much more than a reconciliation tool; it uses sophisticated matching criteria established by your organization and automatically triggers paying agency systems to disburse funds based on common identifiers and matching logic. Managers can review exceptions and aggregate them according to type, drill down to view a case’s underlying cause, track aging of unmatched items to minimize exposure, and highlight time-sensitive unmatched items.
The GDM Match dashboard provides a customizable, entitlement-based, centralized view of critical data sorted by location, product, and user role. This allows you to maximize productivity and manage operational risk across your entire organization.
GDM Match is downstream system agnostic, MQ enabled, and supports MT910 and MT942 SWIFT messages as well as any proprietary format. This system is a module of the Global Debt Manager platform from SS&C, which leverages our best practices delivery model using the latest Microsoft technology that installs easily within existing infrastructures. For more information or a demo, please download our brochure, or contact us at firstname.lastname@example.org or 1.800.234.0556.