ING Direct selects BancWare for ALM
ING Direct, the telephone/internet banking arm of Dutch group ING, has implemented a suite of SunGard Trading and Risk Systems' BancWare products to manage global interest rate risk in three countries.
The unit was launched in Canada four years ago, and currently has operations in Spain, Australia, France, the United States and Italy. ING Direct has installed BancWare in Toronto, Delaware and Sydney, and progress is being made in Madrid. A spokeswoman at ING Direct told RiskNews that this is a global solution system and is likely to be implemented in other countries in the near future.
The BancWare product suite contains analytics for evaluating expected return, risk and market value of the entire balance sheet, individual portfolios, or specific positions. ING Direct had the software customised to suit its needs in different countries.
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