Aktia, a Finnish retail bank, has selected SunGard's Ambit Reporting Suite to help improve regulatory reporting capabilities and aid compliance with Basel III and the EU Capital Requirements Directive IV.
Already a long standing SunGard customer, Aktia chose to extend its use of the Ambit Risk and Performance solution, having recently implemented Ambit Capital Management to improve its capital calculations.
As part of a long term strategy to strive for a best practice risk management infrastructure, Aktia's increased investment in SunGard solutions aims to enhance transparency, accuracy and efficiency. The Ambit Reporting Suite will further aid Aktia in rapid and transparent capital calculation, provide an efficient reporting structure for Common Reporting (CoRep) and help achieve Basel III compliance by the end of 2013.
"It is of course vital to keep up with the latest regulations, but for Aktia it does not just stop there. We have turned the practice of regulatory compliance into an opportunity to strengthen our proactive and long term risk strategy and improve our operations to enhance our competitive edge. Improving our reporting framework with SunGard's solutions not only helps us achieve this, but helps us to lead by example of best practice in the region when it comes to risk management. Extending our investment to the Ambit Reporting Suite will continue to help us realize the significant efficiency, cost and operational gains that we have so far experienced from working with SunGard to address our current and future compliance requirements," commented Ville Ahonen, credit risk manager, Aktia.
"Banks continue to grapple with the data challenges of siloed infrastructures and legacy architectures in the face of tougher regulation. This is driving increased investment in improving their reporting infrastructures to better navigate today's complex regulatory landscape while maintaining sound performance," added Alwin Meyer, chief operating officer, Ambit risk and performance, SunGard.