US bank Wachovia is implementing technology from SunGard to manage credit risk activity across its capital management, corporate and investment banking groups.
SunGard says its ASP-based Adaptiv Credit Risk platform will enable the bank to integrate credit risk management across multiple business lines globally, while ensuring risk measurement methods comply with industry regulations such as Basel II.
The system will provide the bank with credit risk analytics, collateral management and Web-based communications to support global exposure aggregation and limit management.
David Gaines, EVP of risk management at Wachovia comments: "The decision to select an outsourced solution was one not taken lightly. However SunGard has demonstrated that it can offer a strong partnership with a solid track record of delivering a solution that will help us address our credit risk management requirements in an effective way."