Royal & Sun Alliance (RSA) has selected Wall Street Systems, a provider of treasury, trading and settlement solutions and services, to implement a treasury solution.
Wallstreet said it will deploy the hosted city financials solution to empower RSA’s treasury in their cash management, foreign exchange, and treasury risk management activities.
RSA operates a relatively decentralized treasury structure, a common feature of most general insurers, and the purchase of a new treasury management system will be the catalyst to centralize the information flow around treasury activities.
Wallstreet claims that its hosted City Financials solution will enable RSA to manage a complex operation on a single, reliable platform with strong reporting and integration tools.
This implementation will also enable RSA to move from a largely manual to an automated process across its global treasury operation.
Wallstreet’s City Financials solution moves RSA on to a system that both simplifies and expands its treasury capabilities and prepares RSA for future developments in treasury management technology and standards.
Wall Street Systems managing director for corporate treasury Paul Wheeler said the solution will provide RSA with complete transparency and control of cash management.
"Our clients are increasingly looking for SaaS solutions, like our City Financials solution, due to the speed of implementation, low IT overheads, and the lower total cost of ownership," Wheeler said.