Australian financial services group SunCorp is implementing Misys Risk Management Systems' Risk Vision product to strengthen its treasury risk management infrastructure.
Risk Vision will replace existing treasury credit and traded market risk applications with an integrated system built on a single data architecture. Current exposure management processes will be upgraded as part of the deployment to provide more robust real time risk control.
Misys says the implementation will also improve the bank's regulatory compliance and provide a platform for the reporting requirements outlined in the Basel II Accord.
Chris Skilton, chief financial officer and executive director, Suncorp, says: "Risk Vision will provide superior risk management capability, not just with tighter controls over our trading and credit exposure, but in helping improve the efficiency and profitability with which we manage the allocation of our capital."
The group will use Misys' Meridian middleware system to connect with front and back office treasury systems.
The product is expected to go live in early 2005.