Providing end-to-end Summit support, including upgrades, managed services, and migration.
GreenPoint has rich experience in Summit upgrade, implementation, and migration with a strong Capital Markets and Treasury knowledge base around fund accounting, position keeping, and reporting, including curve creation and reconciliation documentation for internal and regulatory validation and strong knowledge of trade life cycle. We have a flexible resourcing model to suit clients’ needs. GreenPoint has a legacy of providing a high level of customer satisfaction.
GreenPoint Summit is the largest single platform practice. GreenPoint has strong capabilities in Summit implementation, upgrade, and migration. Over the years GreenPoint has evolved as an end-to-end service provider for Summit with a knowledge base in business analytics, development, and quality assurance. Strong technical and functional resource pool, rich experience in catering to clients across geographies, understanding of changing treasury business landscape make GreenPoint an eminent player in the Summit world.
As the market continuously evolves, banks and institutions look for opportunities to expand and grow their business. This demands their system must be up to date with all the latest features including LIBOR transition, pricing models, third party interface versions, etc. Most of the new features require a full upgrade to their applications or might demand custom development in implementing the latest functionalities to full their business needs.
However, it’s not easy to achieve these until they engage/ gather an experienced team with a mix of great technical and functional knowledge. For instance, when you upgrade or implement new applications, the team should be aware of the latest changes introduced in the system and market. It can also be a very niche skill, which requires experienced candidates. For instance, LIBOR transition is one such example where you need a team with deep expertise in the financial market for creating pricing models, which supports your new curves, or if they want to integrate an FRTB solution, which requires experts with deep knowledge on Risk and Banking.
Our dedicated in-house team has over 100+ years of collective technical, functional, and quantitative Summit-specific experience. GreenPoint continuously provides solutions to its clients in different Summit modules such as risk management, market and credit risk, Value at risk, regulatory reporting, market data integration, financial instruments, data migration, etc.
We have a highly capable technical resource pool with rich experience in C++, C#, middleware, market data integration, and interface management. Also, our functional resource pool with one of the best in the industry knowledge base, which includes a complete understanding of treasury business, front office, middle office, back office, financial instruments, trade life cycle, structured products, risk management mechanism, credit risk, market risk, value at risk, etc. Our quantitative teams are recognized as one of the best in the industry for curve construction, reconciliation, and validation. Our Summit curve expertise and experience extend from G7 single-currency curves to multi-currency curves across currencies with lower trading volumes and data points.
We provide 24×7 support and services model for onsite and cloud-based Summit installations and applications. We also work very closely with Finastra’s Summit sales, product development, global services, and support teams for independent and jointly executed projects. We have strong expertise and experience in conceptualizing, scoping, budgeting, managing, and executing projects and applications across a breadth of complexity.
Most recently we have undertaken and successfully executed several highly complex LIBOR/RFR transition and upgrades projects for large global banks. Please find some project snippets:
- The client had retained GreenPoint to provide a proposal to enable them to trade and process the LIBOR replacement risk-free rates. This would require an upgrade to their Summit – instance from V5.6 to V6.2 and migration from the SPARC64 platform to the RHE Linux platform for all back-end services and components
- The client had requested to provide a proposal to enable them to trade and process the LIBOR replacement risk-free rates. This needs to be achieved in the existing 6.0x environment without an upgrade.
You can find more details about our case studies by clicking here
This will give an overview about GP’s state-of-the-art project management mechanism and readily available resource pool with the required flexibility to suit clients’ requirements. Rich experience in different versions of Summit has helped GreenPoint to understand the evolution of Summit as well the ever-evolving treasury business.