
Sponsor's article > SunGard expands global client base for its Basel II Solution
Richard Reeves, managing director with SunGard’s BancWare operating unit in London, said that banks in Europe, the Middle East and Africa are looking for solutions that are scaleable, flexible and quick to implement. “Risk managers recognize that regulations will continue to evolve, and they will need tools that allow for compliance today – and tomorrow. They don’t want rigid solutions that require the ongoing and expensive involvement of outside consultants, or reliance on IT departments, so a solution that can be readily maintained by internal business managers once implemented is very appealing.”
SunGard Basel II Capital Manager helps financial institutions comply with and benefit from Basel II by providing regulatory and economic capital calculation models for the balance sheet, stress testing and reporting capabilities, as well as comprehensive audit functions.
Some banks have already moved from selection to implementation and are preparing regulatory calculations in advance of the December 2006 deadline. UK-based bank Bradford & Bingley is well advanced with the implementation of SunGard Basel II Capital Manager for its retail operations.
Alliance & Leicester, a £60 billion UK-based financial institution, took early advantage of the Basel Accord to strategically improve its risk management practices by identifying and freeing-up capital on its balance sheet. Using SunGard Basel II Capital Manager, Alliance & Leicester complies with Basel II for the Internal Ratings Based Approach.
For more on the SunGard Basel II Solution, visit http://www.sungard.com/products_and_services/stars/basel_ii/.
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