Clients

How SkySparc works with central banking clients

SkySparc helps central banks and government institutions to meet new requirements and challenges, while ensuring system reliability and performance, across the full range of functionality:

• Portfolio / reserve management
• Funding and debt management
• Credit / counterparty risk management
• Accounting
• Reporting

For central banks, maintaining overall stability is critical, demanding complete reliability and peak performance of their financial systems. At the same time, keeping abreast of markets means that many central banks are engaged in major change management programs, from upgrades and ongoing systems enhancements to systems integration, ‘future-proofing’ and enhanced reporting. The evolving requirements of central banks and government institutions are reflected in recent assignments:

• Strategic data management / business intelligence projects
• Risk management reporting automation
• Highly automated upgrade projects using our award-winning Upgrade as-a-Service model
• Availability of mission-critical systems via failover solution
• Advisory services on adoption of accounting / messaging standards
• Flexible support services
• Structured quality assurance approach to system deployment, interfacing and configuration
• Performance analysis and fine-tuning

SkySparc works closely with central banking clients, advising them on planning, managing and executing projects, deploying our expert consultants on and offsite as required. Whether delivering standalone projects or integrating with internal staff, for short-term projects or longer term support arrangements, SkySparc staff combine flexibility and dedication with best practice methodologies built on prior experience with central banking clients.

In every project, SkySparc’s in-depth treasury, risk and portfolio management system understanding is critical to formulating and implementing deliverables and solutions that meet central banking client requirements. SkySparc also leverages its OmniFi accelerator as part of innovative, automated solutions for advanced management reporting, testing, systems integration and reconciliation.

Value delivered to central banking clients

SkySparc helps central banks and government institutions to meet new requirements and challenges, while ensuring system reliability and performance, across the full range of functionality:

Award-winning upgrade solution

SkySparc’s Upgrade as-a-Service was used by the Dutch State Treasury Agency to implement a highly automated rolling patch upgrade programme which reduced time spent on upgrades by around a third, minimized involvement of internal staff and bolstered the agency’s cybersecurity defences. The project led to SkySparc being named Technology Consultant of the Year in Central Banking’s FinTech & RegTech Global Awards 2019. Read more

Use of OmniFi reduces operational risk and increases productivity

Central bank’s risk department delivers flexible, higher quality reports through automation. Read more

Data warehouse enabled by OmniFi

SkySparc configured its OmniFi accelerator to help De Nederlandsche Bank overcome processing delays and tight time constraints to successfully implement a flexible data warehouse, thus enhancing reporting and analysis. Read more

Back-up facility meets deadline via support

SkySparc deployed onsite and offsite support to ensure the Central Bank of Azerbaijan implemented the first phase of its failover program on time and on budget. Read more

Automated testing delivers low-risk upgrade

A Euro-zone central bank achieved fast, efficient and secure testing for its upgrade to version 7.4 , through SkySparc’s use of OmniFi to create highly automated processes that minimized risk and internal workload by spreading tasks. Read more

Benchmarking measures performance and tests future resilience

We advised one of the world’s largest central banks on proactively improving the performance of its reserve management system to ensure future stability and resilience. Read more

Quality upgrade assured

SkySparc provided comprehensive third party quality assurance services to a leading EURO central bank during their 7.4 upgrade project. The requirement included a solution for thorough and effective testing of all migrated data. Read more

Complex reporting automated

SkySparc delivered faster, more responsive reporting for a major EURO central bank using OmniFi. Read more

Improved quality of automated upgrade testing

Thorough test packages have reduced risk and upgrade time for central banks. Read more

v7.4 upgrade assistance

We supported a major central bank in Europe during a large release upgrade project. SkySparc provided technical and functional assistance for the project and our responsibilities ranged across CSD migration to accounting configuration and test management.

Data warehouse project

A large EURO central bank selected OmniFi for their Data warehouse project. SkySparc helps the client make use of OmniFi’s interface capabilities to extract data from numerous different sources within Wallstreet Suite and prepare it for import to the target system.

Reserve management reporting

SkySparc is helping a central bank in Central Europe to implement automated reports in OmniFi v5.1 using the new web platform and scheduler for report distribution. The reports contain complex checks of risk related data and also provide executive summaries on different aggregation levels and for different time horizons.

SkySparc’s core areas of corporate treasury experience encompass:

When working alongside the treasury consulting teams of the ‘big four’ audit firms, SkySparc plays a distinct, complementary role in serving corporate treasury clients. Using their unparalleled knowledge of Wallstreet Suite, FIS Treasury and Risk Manager - Quantum Edition, and FIS Treasury and Risk Manager SkySparc’s consulting team help treasuries to either migrate towards newer Cloud-based, SaaS treasury management systems, or provide configuration and integration services with existing systems. SkySparc consultants translate strategic change management requirements into systems deliverables, enabling the system to meet users’ evolving corporate treasury criteria and priorities, smoothly and efficiently.

SkySparc’s Treasury ‘Digital Center of Excellence’ provides a single point of contact for treasuries for all FIS Treasury and Risk Manager - Quantum Edition, and FIS Treasury and Risk Manager – Integrity Edition tech-related enquiries and tasks. SkySparc assists firms in developing their long-term treasury digital strategy, and executing strategic projects to increase their digital maturity level.

SkySparc is the global leading provider of Wallstreet Suite (WSS) systems, offering 20 years’ of experience, providing business solutions and efficiency initiatives and helping WSS clients with reporting requirements and large change management projects, including systems upgrades and compliance.

The combination of SkySparc’s deep pool of experienced staff, investment in proprietary technologies and methodologies, and flexible approach to consultancy projects, offers corporate treasury clients a cost-effective but comprehensive range of tools and capabilities to optimize the use of their treasury/portfolio system in support of strategic goals.

Whether you are implementing a centralized treasury structure, migrating towards a newer Cloud-based, SaaS treasury management system, meeting a new regulatory challenge, or driving new efficiencies in existing processes, SkySparc is a complete service provider and can leverage its unique combination of technical, functional and financial skills to support your corporate treasury’s objectives.

Value delivered to corporate treasury clients

Using the tools and capabilities outlined above, SkySparc has built up an unparalleled track record in supporting the operational and strategic objectives of corporate treasury clients:

Flexible, automated reporting

For a global corporate with 100+ units worldwide, SkySparc used OmniFi to generate an automated solution that delivers flexible, fast and high-quality senior management reports, daily liquidity positions, risk exposure analyses and in-house bank administration on daily, weekly and monthly basis. Read more

Treasury process automation via OmniFi

SkySparc consultants used expert knowledge of WSS to configure OmniFi to automate a wide range of repetitive treasury processes for Toyota Financial Services. Benefits included lower levels of manual intervention, faster and simpler processes for key tasks, and more accurate and reliable mapping of new data to WSS and downstream systems. Read more

Centralised FX Risk Management

SkySparc assisted a German-owned, global vehicle manufacturing firm with the implementation of hedge accounting in its treasury management system, including automated generation of hedge transactions, effectiveness testing and establishment of parallel accounting (IFRS and German GAAP).

Award-winning valuations solution

SkySparc used OmniFi to create an automated data extraction solution enabling Toyota Financial Services to value complex structured transactions daily, thereby enabling the firm to increase funding efficiency and enhance best practice. The project won Treasury Today’s Adam Smith Award 2014. Read more

M&A preparation and onboarding

To support the integration of a major acquisition, SkySparc established multiple import templates for a US-based global conglomerate, using OmniFi, and provided training to inexperienced treasury staff.

Smooth implementation of inter-company funding solution

For a large US-based corporate treasury, SkySparc migrated 1000+ inter-company loans from spreadsheet to its treasury management system and created unit test cases.

Outsourced business and technical support

The central treasury of a global manufacturing conglomerate switched from use of freelancers to a structured outsourced agreement with SkySparc that provides high levels of expertise and availability in a consistent, process-driven, but flexible service framework.

Rationalising bank relationships via ISO 20022

SkySparc supported the efforts of a global pharmaceutical company to centralize its cash management processes by creating ISO 20222-based interfaces between banks, its ERP and WSS, thus replacing multiple proprietary bank interfaces with an industry-standard solution.

Managing business-critical banking processes

For the in-house bank of a global manufacturing firm, SkySparc took responsibility for administering multiple SWIFT access points and messaging processes worldwide, refining, updating and streamlining routing set-ups, before providing the client with the updated documentation required to manage its SWIFT message infrastructure in-house.