Webster Financial Corporation, a holding company for Webster Bank, N.A., will expand its use of SunGard’s BancWare application for integrated risk management across the bank.
Webster’s new integrated approach to risk management includes economic capital, planning and reporting, activity-based costing and business performance measurement, all in addition to its existing asset/liability management capabilities.
“In partnering with SunGard, Webster knows it is working with an experienced leader in risk and performance management,” said Michelle Morgan, vice president of financial planning for Webster. “Because BancWare solution components are already integrated, we’ll be up and running in half the time. This is a great fit for our needs.”
Terence Faherty, president of SunGard’s BancWare business unit, said: “By taking a holistic approach to risk management, Webster is initiating an industry-leading step that we believe will help define future best practices in balance sheet risk management. We are pleased to provide an integrated solution in BancWare that will help Webster achieve risk-based performance objectives.”