South Africa's Standard Bank Group is installing IPS-Sendero's asset/liability management (A/LM) software as the basis of its enterprise-wide risk management system.
The A/LM platform will be used to manage interest rate, capital and liquidity risk across 16 African markets. The system will initially be implemented in South Africa, Botswana, DR Congo, Ghana, Kenya, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Nigeria, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe.
Malcolm Lowe, treasurer at Standard Bank Group's Stanbic subsidiary, says: "Standardising treasury reporting across 16 diverse markets - many of which have never had any form of A/LM before - is the real challenge. Working with the IPS-Sendero team, we're confident that we'll see a rapid return on investment and also improve our understanding of risk right across our African operations."
Fiserv subsidiary IPS-Sendero says the system will also help the bank to comply with the Basel II regulations.