Societe Generale Extends Its Relationship with SunGard with the Selection of BancWare for Asset/Liability and Data Management.LONDON -- SunGard (http://www.sungard.com) today announced that Paris-based Societe Generale has chosen SunGard's BancWare Focus ALM for balance sheet management of several of its retail banking subsidiaries outside of France. Societe Generale has also selected BancWare Focus ALM for 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
Over a period of two years Societe Generale plans to execute this large scale BancWare implementation project across its major retail banking subsidiaries outside of France. This network of banks provides a complete range of retail and corporate banking products to 6.6 million clients across the globe. BancWare Focus ALM will provide static and dynamic modeling that will help the banks to more effectively manage interest rate, foreign exchange and liquidity risk. Some of the banks will install the solution on-site, while others may use it remotely. On- and off-balance sheet products will be modeled in order to help the banks better monitor the impact of market changes on their balance sheets, and make more informed business decisions. BancWare Data Integration will help ensure data confidence by cleansing, sorting and feeding data into the ALM solution so that risk data can be accessed bank-wide in a secure environment, across a single data platform. Full integration with BancWare Focus ALM for funds transfer pricing will also help to provide more accurate 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 on financial instruments, thus facilitating the evaluation of products, customers, and business units for more proactive decision making. Muriel Mace, ALM project manager for Societe Generale, said, "Flexibility is key to this project. We were specifically looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a solution suite that could deal effectively with different languages, character sets and regulations. Equally important was the need for the applications to be user-friendly, and able to be installed in different technological environments. With BancWare, SunGard demonstrated its ability to meet all the necessary requirements, and has the established customer base to prove it." Terence Faherty, president of SunGard's BancWare business unit, said, "We are proud of the reasons behind Societe Generale's decision to extend its relationship with SunGard via the selection of BancWare. These include the user-friendly BancWare solution suite and implementations executed by experienced consultants, delivered on-time and on-budget. We are committed to working closely with our customers, and as one of Europe's biggest banks, Societe Generale will play an important role in helping us to drive our business and technological expertise. We look forward to a continued successful partnership." Societe Generale's Czech subsidiary, Komercni Banka, has been using BancWare for asset/liability management Asset/Liability Management A technique companies employ in coordinating the management of assets and liabilities so that an adequate return may be earned. Also known as "surplus management. (ALM) since 2001. Societe Generale also uses a suite of SunGard solutions including: Adaptiv for credit risk management; Decalog and GP3 for asset management and 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. , respectively; Martini for trade management; GMI GMI Governance Metrics International (New York, New York) GMI Giant Magneto-Impedance GMI Global MSF Interoperability GMI General Motors Institute GMI General Mills, Inc. for back-office clearing and accounting and STeP for matching and reconciliation. About Societe Generale The Societe Generale Group is the sixth largest French company 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. and one of the leading 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. groups in the euro-zone. It employs more than 103,000 people worldwide in three key business areas; Retail Banking & Financial Services, where Societe Generale serves more than 19,8 million individual customers worldwide; Global Investment Management & Services where Societe Generale has assets under custody 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. 1,521 billion (March 2006) and assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. of EUR 402 billion (March 2006); and Corporate & Investment Banking where Societe Generale ranks among the leading banks worldwide in euro capital markets, derivatives and structured finance. Societe Generale is included in the major socially-responsible investment indexes. About BancWare A solution suite for integrated risk and performance management, BancWare is used by banks, mortgage and credit lenders, and other financial services institutions. Designed for finance professionals, BancWare's modular software See modular programming. and consulting solutions for asset/liability management, budgeting and planning, profitability, economic capital, operational risk and Basel II Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. The purpose of Basel II is to create an international standard that banking regulators can use when creating regulations compliance provide a unified view of risk to help improve capital management, and assist in better decision making at all levels of the organization. About SunGard With annual revenue of $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com. Trademark Information: SunGard, the SunGard logo, BancWare, Adaptiv, Decalog, GP3, Martini, GMI and STeP are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries 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