ABN AMRO North America Achieves Integrated Asset Liability Management, Funds Transfer Pricing and Data Management with SunGard's BancWare Solution.Business & High Tech Editors NEW YORK--(BUSINESS WIRE)--Sept. 9, 2002 SunGard Trading and Risk Systems, an operating group of SunGard (NYSE NYSE See: New York Stock Exchange : SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. ), today announced that ABN AMRO ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. has extended its implementation of BancWare for interest rate risk management to include funds transfer pricing Funds Transfer Pricing (FTP) is a process used in banking to measure a funding source's contribution to overall profitability. External links
Using BancWare, ABN AMRO will be able to manage the risks across its balance sheet in one, integrated platform. ABN AMRO North America uses BancWare at its Chicago headquarters to manage risk on approximately $90 billion in retail and commercial banking assets. It has been using BancWare Convergence for interest rate risk management since 1993 and added advanced analytics including option-adjusted valuation (OAV OAV Original Animation Video OAV Organic Aerial Vehicle OAV Original Animated Video ) and prepayment modeling to the solution in early 2000. ABN AMRO has now elected to use BancWare Insight for funds transfer pricing and data management. BancWare Insight will collect, clean and synthesize transaction level data from various business lines and then feed that data into BancWare Convergence for asset liability management. Using BancWare's flexible transfer pricing Transfer pricing refers to the pricing of goods and services within a multi-divisional organization, particularly in regard to cross-border transactions. For example, goods from the production division may be sold to the marketing division, or goods from a parent company may be methodologies, ABN AMRO will be able to separate interest rate volatility from product decisions, allowing financial managers to effectively price products, perform asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. and make compensation decisions for maximum profitability and value. David Ide, senior vice president at ABN AMRO, said, "One integrated platform for ALM and funds transfer pricing ensures data consistency across departments, enabling each to make informed strategic business decisions with confidence. BancWare enables us to have centralized control within the finance area over the entire process, thus greatly helping to streamline our operation. Our success with BancWare for interest rate risk management and our long relationship with SunGard have proved that we can trust in the dependability of its solutions and support team." Terence Faherty, president of SunGard's BancWare operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon , said, "We partner with our clients to provide solutions that meet their business needs, allowing more time to be spent on decision making and less time focused on integration. This enables our clients to focus on strategic decisions such as pricing and risk management, thereby increasing margins and profitability." A case study about how BancWare has helped ABN AMRO manage interest rate risk and maximize profitability can be found at http://www.risk.sungard.com. About ABN AMRO Netherlands-based ABN AMRO Bank N.V. is one of the world's largest banks with total assets of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 597.4 billion and a presence in more than 3,500 locations in over 60 countries and territories. ABN AMRO is organized into three autonomous strategic business units, responsible for managing wholesale clients; consumer and commercial clients; and private clients and asset management. In North America, ABN AMRO is headquartered in Chicago and has nearly $90 billion in assets. Subsidiaries include LaSalle Bank in Chicago, Standard Federal Bank in Michigan. About SunGard Trading and Risk Systems SunGard Trading and Risk Systems provides integrated, enterprise-wide solutions for financial and energy trading, risk management and operations, as well as asset liability management and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against and forecasting. Serving over 600 clients, it offers Web-enabled solutions for achieving straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. , and for managing market, credit and operational risk. Clients include financial institutions, energy companies, government agencies and corporations of every size, geographical reach and operational complexity. SunGard Trading and Risk Systems also offers systems integration, project management and consulting services. About SunGard SunGard is a global leader in integrated IT solutions for financial services. SunGard is also the pioneer and leading provider of information availability services. SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services companies. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenues of $2billion. Visit SunGard at www.sungard.com. Trademark Information: SunGard, the SunGard logo and BancWare are trademarks or registered trademarks of SunGard Data Systems Inc. in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion