BancWare to Provide Asset/Liability and Data Management
NEW YORK, Feb. 26 /PRNewswire/ -- SunGard (NYSE: SDS) announced today that
Amicus Corp, the newly created Internet banking division of Canadian Imperial
Bank of Commerce ("CIBC"), has licensed a suite of BancWare products to manage
interest rate risk and derive market values across its balance sheet and
investment portfolio. BancWare is developed and marketed by SunGard Trading
and Risk Systems, an operating group of SunGard.
Amicus provides on-line banking and other financial services to consumers
in North America through alliances with selected firms. It will use a suite
of BancWare data and asset/liability management products to gather and enhance
data from the disparate businesses that it services and then apply the
advanced analytics of option-adjusted valuation to analyze and report interest
rate risk and provide market valuations.
Karen Martin, treasurer at Amicus, said, "With our rapid growth, we need
BancWare's flexibility to integrate our various businesses into a coordinated
structure. BancWare also allows us to apply advanced analytics to both our
investment portfolio and our balance sheet through one model, and through the
ease of the familiar Excel interface."
At the center of the installed product suite will be BancWare Convergence,
BancWare's powerful income simulation and market valuation engine, through
which Amicus will consolidate analysis of its multiple businesses. BancWare
Insight will power data management for Amicus and BancWare Viewpoint will
drive advanced option-adjusted valuation analytics.
Terence Faherty, chief operating office of SunGard's BancWare unit said,
"Amicus is on the cusp of some exciting trends in banking, and we are pleased
that they recognize that BancWare offers the technology and flexibility that
will enable them to aggressively address the marketplace."
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, 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, BancWare
Convergence, BancWare Insight and BancWare Viewpoint 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
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CONTACT:
Sally Clarke, 44 207 337 1018, or fax, 44 207
337 6010, or sally.clarke@risk.sungard.com; or Adriana Senior,
212-317-7489, or fax, 212-223-0220, or
adriana.senior@risk.sungard.com, both of SunGard Trading and Risk
Systems
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