Westpac selects SunGard's Credient for credit risk management

Westpac selects SunGard's Credient for credit risk management

Australia's Westpac Banking Corporation is deploying SunGard Trading and Risk Systems' real-time risk management software, Credient, to manage its global credit limits.

SunGard says its Credient product will provide Westpac with a central store of credit information and enable staff to monitor global exposures against limits, and manage exceptions on a real-time basis.

The system will provide traders with pre-deal limit checking and 'what if' analysis. Credit line availability levels, and any applicable warnings, will be sent to users in real-time. Credit officers will also be instantly notified of any credit policy violations.

John Wilson, president, SunGard Asia Pacific, says: "Credient provides the workflow environment that banks need to gather and aggregate data with improved efficiency and consistency.

"In the face of regulatory and economic pressures, banks are also seeking to more efficiently manage and allocate capital. Credient provides the tools to achieve this."

Westpac also uses SunGard's Mint application for SwiftNet connectivity and Tiger software for trade finance.

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