BancWare to Provide Interest Rate Risk Management With Advanced Analytics
NEW YORK, Dec. 4 /PRNewswire/ -- SunGard Trading and Risk Systems today
announced that E*TRADE Bank has licensed the BancWare suite of advanced
analytical modeling products to manage interest rate risk on its balance
sheet.
E*TRADE Bank is a $9 billion Internet bank that more than doubled its
assets in the past year. It will use the advanced Option Adjusted
Value-at-Risk (OAV@R) analytics of BancWare Viewpoint, a product that will
determine interest rate risk and market value for the Bank's investment
portfolio as well as across its balance sheet.
Dennis Webb, senior vice president and risk manager of E*TRADE Bank, said,
"BancWare offers the most complete risk management solution, with strong
analytics, excellent reporting, and dynamic interfaces to third-party vendor
solutions. We will use the information from BancWare to plan business
strategies as we manage risk/return tradeoffs from our assets, liabilities,
and derivatives."
Mr. Webb added, "BancWare's emphasis on quality control sets it apart from
its competitors."
E*TRADE Bank will also install BancWare Convergence, an integrated
forecasting and interest rate risk management system, and BancWare Insight, a
data collection, transformation and management system.
Terence Faherty, chief operating officer of SunGard's BancWare business
unit, said, "BancWare has long been recognized as a leading provider of
integrated risk and planning solutions. Our asset/liability management and
financial planning solution is used by more than 200 banks and other financial
institutions in over 28 countries. Our clients rely on us to offer complete
solutions, from data integrity to advanced analytics, supported by our quality
assurance and outstanding client services. We are pleased that E*TRADE, an
innovator in brokerage, and now in banking, chose BancWare for all of these
reasons."
About E*TRADE Bank
E*TRADE Bank is a wholly owned subsidiary of E*TRADE Group, Inc. Deposits
at E*TRADE Bank are insured up to $100,000 by the FDIC. E*TRADE Bank is the
nation's largest pure-play Internet bank and is the only pure-play Internet
bank to be ranked among the top 19 federally chartered U.S. savings banks for
both assets and deposits based on FDIC data. As of September 30, 2000, E*TRADE
Bank had over $9.0 billion in assets, $4.6 billion in deposits and over
290,000 customer accounts. E*TRADE Bank can be accessed at etradebank.com or
800-ETBANK-1.
About E*TRADE Group, Inc.
E*TRADE is a global leader in online personal financial services, offering
value-added investing, banking and research features, premium customer service
and a redundant, proprietary Stateless Architecture(SM) infrastructure.
Lafferty Internet Ratings recently rated E*TRADE as the number one global
online broker (9/00). In addition to the U.S., E*TRADE presently serves
customers in Australia, Canada, Denmark, Japan, Korea, New Zealand, Norway,
Sweden, South Africa, and the U.K., through branded web sites. E*TRADE
Securities, Inc. (Member NASD/SIPC), and its parent company, E*TRADE Group,
Inc. have offices in Northern California and in other major business centers
in the U.S. and worldwide. E*TRADE and the E*TRADE logo are registered
trademarks of E*TRADE Securities.
About BancWare and SunGard
BancWare's asset/liability management and financial planning solutions are
developed and marketed by SunGard Trading and Risk Systems, an operating group
of SunGard (NYSE: SDS), 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 Convergence,
BancWare Viewpoint, and BancWare Insight 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.
Important Notice: E*TRADE, the E*TRADE logo, E*TRADE Bank, Destination
E*TRADE and Stateless Architecture are trademarks or registered trademarks of
E*TRADE Group, Inc. or its subsidiaries. All other trademarks are the property
of their respective owners. The statements contained in this news release that
are forward-looking are based on current expectations that are subject to a
number of uncertainties and risks, and actual results may differ materially.
The uncertainties and risks include, but are not limited to, changes in market
activity, market acceptance of the Destination E*TRADE web site, anticipated
increases in the rate of new customer acquisition, the conversion of new
visitors to the site to customers, seasonality, the development of new
products and services, the enhancement of existing products and services,
competitive pressures (including price competition), system failures, economic
and political conditions, changes in consumer behavior and the introduction of
competing products having technological and/or other advantages. Further
information about these risks and uncertainties can be found in the
information included in the annual report filed by the company with the SEC on
Form 10-K (including information under the caption "Risk Factors") and
quarterly reports on Form 10-Q.
E*TRADE Bank and E*TRADE Securities, Inc. are affiliated but separate
companies. Investment products made available from E*TRADE Securities, Inc.
are not insured by the FDIC, are not a deposit or obligation of E*TRADE Bank,
are not guaranteed by E*TRADE Bank and are subject to investment risk,
including loss of principal amount invested.
System response and account access time may vary due to market conditions,
trading volume, system performance and other factors.
SOURCE SunGard Trading and Risk Systems
 back to top
Related links:
http://www.infinity.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 fax, 212-223-0220,
or adriana.senior@risk.sungard.com, both of SunGard Trading and
Risk Systems
|
