JACKSONVILLE, Fla., Oct. 16 /PRNewswire/ -- Rockall Technologies, a
leading financial services solutions company, is delighted to announce that
their systematic tracking of collateral management solution, STOC, was
selected by the Federal Home Loan Bank of Atlanta (FHLBank Atlanta).
FHLBank Atlanta will implement STOC to allow real-time management of all
types of collateral pledged by its borrowing member banks. The Rockall
product is unique in its integration capability with other banking systems,
securities custodians and market pricing systems to accept and provide
additional data so that lending positions can be calculated accurately,
exceptions to policy may be securely managed and general reporting and or
inquiry functions are easily available to the bank's users.
STOC is a software application used to automate the management,
tracking and valuation of liquid and whole loan collateral. Liquid
collateral and loan assets are imported, analyzed for eligibility based on
predetermined business policies, valued via multiple market sources and
haircuts are applied. The STOC product provides state-of-the-art
functionality to allow the bank to minimize risk but at the same time
provide a more efficient service to its customers. At FHLBank Atlanta, this
results in a more attractive all-in cost of borrowing for customers and an
enhancement to the value of Bank membership. Today, the Rockall system has
5,000 users worldwide managing more than $600 billion of collateral. In
addition to FHLBank Atlanta, STOC has recently been implemented at
Wachovia, FHLBank Boston, FHLBank New York, and FHLBank Pittsburgh.
FHLBank Atlanta's Executive Vice President and Chief Credit Officer,
Kirk Malmberg, announced the decision and explained, "We selected Rockall
Technologies to provide enhanced collateral management software to our bank
and its members because we found it to be the most robust and yet, flexible
and configurable collateral management solution available in today's market
place."
Recent challenges in the lending markets have made the implementation
of loan collateral management systems more critical than ever for financial
institutions worldwide. As Rockall CEO Luke Nestor explains, "Rockall is
very proud of the fact that its collateral management solution, called STOC
(Systematic Tracking of Collateral) has been chosen by Wachovia and four of
the largest Federal Home Loan Banks -- Boston, Pittsburgh, New York and now
Atlanta. We believe we are the global leader in collateral management and
the confidence shown in us by these leading Federal Home Loan Banks
underscores that reality."
About Rockall Technologies:
Rockall Technologies ( http://www.rockalltech.com ) is an international
software solutions company with offices in Dublin, Ireland and the USA.
Rockall has more than 20 years of experience providing lending and
collateral management solutions to strategic partners in the global
financial services market. Rockall's enterprise product suite fulfills any
organization's need for recording, managing and systematic tracking of all
collateral types securing any credit/exposure. Rockall clients include
Wachovia, FHLBank Boston, FHLBank New York and FHLBank Pittsburgh in the
US, and National Australia Group, Allied Irish Bank and Bank of Ireland
internationally. For more details on Rockall clients and solutions go to
http://www.rockalltech.com/page100.html
About FHLBank Atlanta:
The Bank is a cooperative financial services organization that provides
funding, community development grants, and other banking services to more
than 1,200 member financial institutions in Alabama, Florida, Georgia,
Maryland, North Carolina, South Carolina, Virginia, and the District of
Columbia. The Bank is one of 12 district banks in the Federal Home Loan
Bank System.
SOURCE Rockall Technologies
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Related links:
http://www.rockalltech.com
http://www.rockalltech.com/page100.html
http://www.prnewswire.com/gh/cnoc/comp/149931.html/
CONTACT:
Fred Pruitt of Rockall Technologies,
+1-904-613-8805, fred.pruitt@rockalltech.com; or Sharon Cook of
FHLBank Atlanta, +1-404-888-8173, scook@fhlbatl.com
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