BancWare to Model Complex Aircraft Loans
NEW YORK, Feb. 12 /PRNewswire/ -- SunGard (NYSE: SDS) announced today that
Cessna Finance Corporation of Wichita, KS has licensed the BancWare product
from SunGard Trading and Risk Systems to manage interest rate risk and
forecast income across its balance sheet. BancWare will also model Cessna's
aircraft loans that operate outside the pattern of standard financial
contracts.
Cessna is a $1 billion captive finance company that provides financing for
both new and used Cessna aircraft. Aircraft loans on Cessna's balance sheet
are customized for each contract payment schedule and rates vary in pattern
and form, with almost no two alike. Convergence, the BancWare income
generation model, will model these products for Cessna.
John Klaassen, financial analysis and planning manager for Cessna, said,
"Although we selected BancWare for its strong presence and reputation in the
industry, BancWare is also the only affordable solution that can accurately
model our complex loan products and deliver the information we need."
Cessna also values BancWare's unique ability to provide the accurate cash
flow generation necessary to support securitizations and participations,
Klaassen added.
At Cessna, BancWare will project income and cash flows and assess earnings
at risk to interest rates fluctuations. With this detailed information, Cessna
will develop new strategies to structure the balance sheet for profitability.
Terence Faherty, chief operating officer of SunGard's BancWare business
unit, said, "Cessna is an example of the many financial institutions that have
called on BancWare financial engineering to unlock the information that is
critical to strategic planning."
About SunGard Trading and Risk Systems
SunGard Trading and Risk Systems provides integrated, enterprise-wide
solutions for financial trading, risk management and operations, as well as
asset liability management and financial planning and forecasting. Serving
over 500 clients, it offers Web-enabled solutions for achieving
straight-through processing, and for managing market, credit and operational
risk. Clients include banks, broker/dealers, asset managers, hedge funds,
corporate and government treasuries of every size, geographical reach and
operational complexity. For energy companies, SunGard Trading and Risk Systems
provides trading, risk management and commodity scheduling software solutions.
About SunGard
SunGard is a global leader in integrated IT solutions and eProcessing for
financial services. SunGard is also the pioneer and a leading provider of
high-availability infrastructure for business continuity. With annual revenues
in excess of $1 billion, SunGard serves more than 10,000 clients in over
50 countries, including 47 of the world's 50 largest financial services
institutions. Visit SunGard at http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo, BancWare, and BancWare
Convergence are trademarks or registered trademarks of SunGard Data Systems
Inc. or its subsidiaries in the U.S. and other countries. All other trade
names are trademarks or registered trademarks of their respective holders.
SOURCE SunGard Data Systems Inc.
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http://www.sungard.com
Company News On-Call:
http://www.prnewswire.com/comp/115467.html or fax,
800-758-5804, ext. 115467
CONTACT:
Europe, Sally Clarke, 44-207-337-1018, or
fax, 44-207-337-6010, or sally.clarke@risk.sungard.com, or Asia &
The Americas, Adriana Senior, 212-317-7489, or 212-223-0220, or
adriana.senior@risk.sungard.com, both of SunGard Trading and Risk
Systems
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