Abbey National selects Algo Collateral

Algo Collateral is an enterprise-wide system that supports collateral management and should help reduce operational and credit risk.

“The centralised margining framework offered by Algo Collateral was an important component in our decision,” said Nathan Bostock, head of treasury services at Abbey National. Bostock added that Abbey National also licensed the technology due to its perceived “low project implementation risk”.

Neither company released the financial terms of the contract.

A total of 43 financial institutions have licensed Algo Collateral.

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