Planixs, the Manchester-based provider of digital real-time cash, collateral and liquidity management solutions, has gone live at $44bn-valued Santander with its Realiti Software Suite.
The software will transform the bank’s liquidity management processes, including cash management, liquidity forecasting and risk mitigation. Santander is the world’s 16th largest banking institution with a market cap of $44bn and around $1.7trillion of assets under its management.
Santander selected Planixs’ real-time software in 2021, after extensively reviewing the market looking for a solution that would allow the bank to obtain real-time visibility at scale over its balances, cash positions and liquidity usage. The platform will complement the firm’s existing infrastructure that continues to be used across the bank.
Santander opted for Planixs’ Intraday Liquidity Management, Funding & Forecasting and Intraday Reconciliation modules to improve its processes and digitally transform its treasury operations. The modules selected will allow Santander to achieve its goals of obtaining real-time insight into liquidity positions and detailed analytics and forecasts of end of day projections for all accounts. The platform will also allow the bank to proactively manage payment flows and optimise liquidity buffers, whilst automating processes to mitigate the risk and overheads associated with time-consuming, laborious manual tasks.
Ross Morgan, head of treasury middle office and operations at Santander said: “Planixs’ Realiti Suite will enable us to manage our cash, liquidity and reconciliations in real-time. It will improve our day-to-day processes and transform our treasury function. Furthermore, as the solution has been deployed as a SaaS application, we will be able to provide our users with anytime access, meaning they can easily access and share data with confidence.”
Neville Roberts, Planixs CEO, added: “Santander is a major G-SIB [Global Systemically Important Bank] that requires market leading capabilities to meet its increased regulatory commitments and treasury objectives. Realiti is the perfect choice for the bank, and we are delighted that Santander has selected, and now gone live, with our award-winning solution.”
Realiti is used in many global financial institutions, with clients including Lloyds Banking Group, Allied Irish Banks, Deutsche Bank and First Bank, among others.
