SunGard’s BancWare was selected by the United Bank for Africa Plc, the sixth largest African bank outside of South Africa. The BancWare application is used for asset/liability management and integrated data management.
UBA, based in Lagos, Nigeria with branches in Ghana, New York and the Cayman Islands, will use BancWare for multi-dimensional analysis of its balance sheet. It will also use deterministic and stochastic modelling to analyse interest, liquidity, market and foreign exchange rate risk, income simulation and market valuation.
“We chose BancWare because we value the strength of a company like SunGard and the professional approach of its staff,” says Gabriel Edgal, group treasurer of UBA Plc. “Of the solutions we considered, the functionality of BancWare was best suited to our needs, and its proven ability to deliver world class analytics, coupled with the tightly integrated data management solution was key. The product strategy and commitment to future development of the software was also a differentiating factor.”
“With the addition of UBA to our existing African client-base, we are delighted to see a growing number of banks in the region choosing to implement our solutions,” says Andreas Hug, managing director of BancWare EMEA. “BancWare has extensive, preconfigured models that our customers can use across their entire organizations, at the same time allowing subsidiaries elsewhere to develop new models and analytical tools according to their specific requirements. In this case UBA will perform branch level analysis to satisfy local regulatory reporting requirements in New York and Ghana as well as at group level across from the Head Office in Lagos.”