BancWare to Provide Robust, Group-Wide Interest Rate Risk Management
NEW YORK, March 22 /PRNewswire/ -- SunGard (NYSE: SDS) today announced
that Halifax Plc, a leading U.K. financial services Group in West Yorkshire,
England has selected BancWare, SunGard Trading and Risk Systems' asset and
liability management (ALM) system, for group-wide interest rate risk
management.
Halifax Plc is the U.K.'s largest mortgage lender with an approximate
19% market share of the total U.K. mortgage book. Ranked the sixth largest
bank in the U.K. by assets, which total $270 billion, Halifax Plc serves over
20 million customers and has 36,000 staff across the United Kingdom. It will
use BancWare to provide interest rate risk management at a group level across
multiple business units, incorporating measurements for optionality, income
simulation and market valuation.
Bob Brooks, head of group asset & liability management at the Halifax,
said, "We selected BancWare because we wanted to be part of its significant
client group using software that has a demonstrably good track record. The
software also provides transparency to the user and the intuitive analytic
capability required to operate across a diverse user population." Six of the
top 10 U.K. banks and 11 of the top 16 U.K. building societies use BancWare
for asset liability management.
Halifax selected BancWare for its multi-business unit modeling, openness
and flexibility, and ability to model a wide range of instruments across the
balance sheet.
Mr. Brooks added, "The expertise and partnership approach of BancWare's
global support team and the tangible commitment to further development of the
BancWare product is of utmost value to us."
Bill Collette, director of sales for SunGard's EMEA BancWare operating
unit, said, "BancWare's unique ability to combine complex multi-level modeling
with ease-of-use and flexibility has made it a leading solution for asset
liability management. SunGard's proven reliability and expertise in risk
technologies ensures that BancWare will continue to be at the forefront of
future market demands."
About Halifax Group Plc
The Halifax Group is one of the highest rated financial organizations in
the U.K. It is one of only six banks in the world with a financial strength
rating "A" from Moody's. The Halifax Group currently stands as one of the
U.K.'s most established providers of financial services. Our brand has been
independently judged as the best known and most highly regarded of all retail
financial services brands in the U.K. More people have mortgages and savings
account with us than with any other organization and we also offer a wide
range of other personal financial services including long term savings, home,
motor and creditor insurance, retail banking, consumer credit and share
dealing. We have around 800 branches in the U.K., and over 20 million
customers.
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.
NOTE: SunGard, the SunGard logo and BancWare 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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http://www.sungard.com
Company News On-Call:
http://www.prnewswire.com/comp/115467.html or fax,
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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
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