NEW YORK, April 27 /PRNewswire/ -- SunGard Trading and Risk Systems, an
operating group of SunGard (NYSE: SDS), today announced that ING Direct has
licensed a suite of BancWare products to manage interest rate risk throughout
its Direct banking operation, which now extends to six countries in three
continents. SunGard's global support network for BancWare will provide ING
Direct with local support in all of its regions of operation.
ING Direct is the Direct banking arm of the financial services giant, ING
Group of the Netherlands. It operates in Australia, Canada, France, Italy,
Spain and the United States.
Dennis Worst, risk manager of ING Direct, said, "After a thorough
evaluation of a number of vendor solutions we selected BancWare, which proved
to be best suited to and best priced for our requirements. With BancWare, we
are able to model multiple business units using a common platform. SunGard's
global support for the BancWare product suite is also important to us."
Other members of the ING Direct global team were pleased by the rapid
implementation process for BancWare. Greg Dunford in the United States and
Joel Bates in Canada commented on how easily they can now handle regulatory
reporting. "The reporting capabilities are very easy to use," added
Colin Campbell in Canada. Using BancWare, Mark Kocaurek and Frank d'Angelo of
ING Direct Canada finally solved all of their data issues and said, "though it
might look like a simple system, every day we are discovering new capabilities
in BancWare."
BancWare will be installed in all the country headquarters of ING Direct
and will be customized to meet the requirements of the different countries of
operation. All sites will use BancWare for asset and liability management,
data management, advanced behavioral analysis, and integration of key elements
of the planning and forecasting process.
Specific country sites will use BancWare's integrated multi-currency
capabilities, third party interfaces for prepayment and cash flows, and the
advanced analytical solution, Option Adjusted Value-at-Risk (OAV@R), which
evaluates expected return, risk and market value of the entire balance sheet,
individual portfolios, or specific positions.
Terence Faherty, president of the BancWare operating unit, added, "We are
particularly pleased that the Direct banking group of ING, noted for being on
the vanguard of technological innovation within the financial services
industry, has recognized BancWare's reputation as an innovative market
leader, with a solution set that meets the needs of a rapidly growing and
global institution. BancWare provides the advanced analytics of OAV@R,
multi-currency capabilities crucial to the European market and the
sophisticated deposit modeling capabilities that will be used across its
global system."
About ING Direct
ING Direct is the Direct banking arm of ING Group of the Netherlands with
more than one million clients. ING Group is one of the world's largest
integrated financial services organizations and operates in 65 countries and
has over 100,000 employees.
About SunGard Trading & 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 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 Trading and Risk Systems
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CONTACT:
in Europe, Sally Clarke, 44-207-337-1018, or
fax, 44-207-337-6010, or sally.clarke@risk.sungard.com, or in
Asia & The Americas, 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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