SunGard’s BancWare has been selected by 16 members of the Madrid-based Confederacin Espaola de Cajas de Ahorros (CECA) in order to integrate interest rate risks and data management.
The savings banks incorporated BancWare to help manage interest rate, foreign exchange and liquidity risk through its ALM modeling. “Following the Basel II principles for interest rate risk management, many savings banks in Spain were found to have an opportunity to improve their ALM analysis,” says Julin Fernndez Antn, head of middle office and methodology for CECA. “As a result, CECA decided to coordinate a selection process to find the most suitable solution for its member banks, to help them to advance their interest rate risk management and comply with the regulatory framework required by the Bank of Spain and the Basel Accord. As a result, SunGard’s BancWare has been chosen as the best solution to meet the selection criteria.”
“The fact that CECA and sixteen of its member savings banks have selected SunGard’s BancWare for ALM, demonstrates our reliability in helping banks around the world to meet stringent regional regulatory and risk management requirements,” says Terence Faherty, president of SunGard’s BancWare business unit. “Our ability to provide on-time, on-budget implementations of BancWare, our industry expertise, Spanish-speaking resources and our close relationship with Madrid-based partner, InterMoney, is helping banks in Spain to meet their balance sheet and regulatory risk management challenges.”