SunGard says that US based Fifth Third Bank has implemented SunGard’s Kiodex Risk Workbench to support its front-to-back office commodity trading business. SunGard Kiodex provides a Web-based commodities risk management application.
“Working with SunGard’s Kiodex and a great team here at Fifth Third, we were able to launch the Risk Workbench in three weeks,” says Mark Gargano, the head of commodity trading at Fifth Third Bank. “The model, the data, and the reports all just worked, allowing us to focus on launching our business and building our processes.”
“We are pleased that Fifth Third Bank selected Kiodex to launch its business,” adds Ben Jackson, the chief operating officer of SunGard’s Kiodex business unit. “At SunGard we help banking customers ranging in size and scope with independent verification on a daily basis, in turn helping them to assure their stakeholders that profit and loss and risk statements are accurate. We look forward to continuing to work with Lehman and Fifth Third, to help them manage their risks in energy and derivatives and to support continued growth of their businesses.”