By: 12 March 2021

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

Planixs lands Santander in major liquidity management contract win

Planixs, the provider of real-time, intraday cash, collateral and liquidity management solutions, has landed a major client.

Santander, a global systemically important bank (GSIB), will use Planixs Realiti to improve its liquidity management processes, including cash management, liquidity forecasting and risk mitigation.

The bank needed a strategic partner and solution that would allow it to obtain real-time visibility at scale over its balances, cash positions and liquidity usage.

This would allow Santander to proactively manage payment flows and optimise liquidity buffers, while also automating processes to mitigate the risk and overheads associated with time-consuming, laborious manual tasks.

After thoroughly reviewing Realiti and hearing first-hand from other banking firms that are seeing significant benefits from the software, Santander selected Planixs as its real-time solution provider, opting for the 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.

Due to the Covid-19 pandemic, one of the key drivers in selecting Planixs Realiti was to mitigate risk and provide the option for staff members to safely and securely share data and information while working remotely.

With operating models changing overnight and working from home becoming the norm, the inherent operational risks in legacy processes have only been highlighted, along with the fact that manual processes that are normally conducted in person, in the office, would no longer be fit for purpose.

As Realiti can be hosted and delivered as a software-as-a-service (SaaS) solution, staff members will now be able to log on and access and share data from home, while also ensuring the utmost security.

Santander has also identified Realiti as business critical. Consequently, the bank required a SaaS deployment option that provided a highly resilient solution with recoverability built in. As a result, Realiti will be deployed using Amazon High Availability Zone to mitigate both component and site failure.

Commenting on Santander’s decision to select and rollout Realiti, Ross Morgan, head of department for treasury middle office and operations, says: “We are very excited about deploying Realiti and experiencing the benefits across our liquidity management processes. Furthermore, we are really pleased to have found a strategic partner in Planixs that we can work with to transform our treasury operations.”

Neville Roberts, chief executive officer of Planixs, comments: “Santander is one of the largest banks in the world—one that is recognised globally and with GSIB status—meaning it is subject to increased regulatory pressures. Realiti has been designed for such banks, to provide firms with real-time insight and anywhere access, allowing them to improve their cash and liquidity management processes and meet regulatory compliance.”

“We are delighted to have been selected by Santander to help the bank meet its treasury objectives and look forward to a long working relationship with the organisation.”

Planixs has enjoyed significant success since it launched the Realiti real-time cash, collateral and liquidity management solution.

Current Realiti users include SIX Group, Banque Internationale à Luxembourg, Lloyds Banking Group, Landesbank Baden-Württemberg, Scotiabank, Deutsche Bank, Ghana International Bank and Zenith Bank.