Raiffeisen-Landesbank Steiermark AG part of the Raiffeisen Sector, the largest banking group in the Styria province of Austria, has gone live on SunGard’s Front Arena operations, Front Arena sub-ledger and Adaptiv Risk Cube solutions, all of which integrate with RLB’s existing Front Arena installation to provide front- to back-office processing of treasury trading and settlement. Raiffeisen-Landesbank Steiermark uses SunGard’s Front Arena fortreasury trading and position control across multiple asset classes and business lines, providing the bank with Value at Risk (VaR) for enterprise trading control.
Raiffeisen-Landesbank Steiermark needed a solution that would be able to optimize operational efficiencies and increase system flexibility and risk management capabilities to help ensure the best possible service for its customers. AddingSunGard’s Adaptiv Risk Cube and Front Arenas Operations and Sub Ledger solutions to its current Front Arena solution will help Raiffeisen-Landesbank Steiermark enhance its straight-through processing (STP). Adaptiv Risk Cube stores, aggregates and presents VaR data in a dynamic dashboard. Front ArenaOperations generates confirmations and SWIFT messages for settlements and confirmations, and Front Arena Sub Ledger generates ledger postings. The front- to-back-office solution will help Raiffeisen-Landesbank Steiermark expand the coverage of its instrument valuation, manage parametric VaR from the desk level, and automate manual processes throughout operations.
Dr. Stefan Dahm, head of treasury at Raiffeisen-Landesbank Steiermark, said, “We needed a front-to-back treasury solution that would provide more flexibility, automation in operations, as well as improve processing across asset classes from trading to settlement and provide us with cutting-edge risk management. SunGard’s Front Arena and Adaptiv solutions give us the confidence to trade effectively while helping to increase operational efficiency and reduce our total cost of ownership. SunGard provided a rapid and successful prototype phrase and after only ten months and ahead of our project deadline we were live on the system – a testament to the solution and the teams that worked on the project”.
Juerg Hunziker, president of SunGard’s Front Arena and Adaptiv business units, said, “Banks like Raiffeisen-Landesbank Steiermark need to be able to act quickly on market opportunities. Front Arena and Adaptiv provide a streamlined solution for trading and operations that helps customers achieve rapid time to market,enhance decision making, and gain efficiencies in trading and settlement by meeting real-time and end-of-day processing needs.”
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