Barclays Bank Selects Integrated BancWare Solution; Multi-Site Installation Includes Advanced Interest Rate Risk Management.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 5, 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 Barclays Bank has selected BancWare for financial risk management, integrated asset liability management, data management and planning and forecasting of business level net interest income, across the UK, France and Spain. Barclays, a London-based bank with $360 billion in assets, is the third largest bank in the UK by assets and one of the largest banks in the world by market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. . It is a leading provider of current accounts and mortgages in the UK and a leader in the European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. credit card industry. Barclays selected BancWare because it wanted one solution to support a broad spectrum of financial risk management activities, from data management, margin simulation and profitability analysis, to advanced asset liability analysis across multiple lines of business and currencies. Barclays will use BancWare Insight to collect, clean and synthesize To create a whole or complete unit from parts or components. See synthesis. transaction level data from various business lines, helping to ensure the quality and consistency of the data. BancWare Convergence will then model the data under a number of different interest rate scenarios to provide comprehensive income simulation and market valuation. Advanced balance sheet modeling will be performed using BancWare OAV OAV Original Animation Video OAV Organic Aerial Vehicle OAV Original Animated Video term structure modeling and advanced behavior modeling capability. Brandon Davies, head of retail market risk management at Barclays, said, "We selected BancWare because SunGard was the only vendor with proven, referenceable solutions matching our distributed environment. BancWare provides a robust, flexible platform for financial risk management, planning, asset liability management and advanced analytics. This integrated solution will enable us to enhance our existing strength in modeling multiple business lines using a common platform with consistent, reliable data. SunGard's global reach, local support, financial strength and reputable rep·u·ta·ble adj. Having a good reputation; honorable. rep  u·ta·bil client base makes it a vendor partner that we feel confident working with over the long term." Jim Ashton, chief executive officer of SunGard Trading and Risk Systems, said, "With the addition of Barclays to its client list, BancWare extends its leadership position among Europe's top banks. Five of the top seven UK banks, including Barclays, rely on BancWare to manage their entire balance sheet. These clients not only benefit from the dependable high performance of BancWare solutions, but also from SunGard's many local client support teams and from the collective strength of SunGard Trading and Risk Systems across Europe." 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 Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" . About SunGard SunGard (NYSE:SDS) is a global leader in integrated IT solutions for financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . SunGard is also the pioneer and leading provider of information availability services. With annual revenues of $2 billion, SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services companies. 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. |
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