SunGard wins ING Direct global risk contract

SunGard wins ING Direct global risk contract

ING Group's direct banking arm has licensed SunGard Trading and Risk Systems' suite of BancWare products to manage interest rate risk throughout its global operations, spanning Australia, Canada, France, Italy, Spain and the United States.

Dennis Worst, risk manager of ING Direct, says BancWare was selected in competition with other solutions on the basis of suitability and price. "With BancWare, we are able to model multiple business units using a common platform," he says. "SunGard's global support for the BancWare product suite is also important to us."

The product will be installed in all the country headquarters of ING Direct and will be customised to meet the requirements of the different countries of operation, says Worst. All sites will use BancWare for asset and liability management, data management, behavioural analysis, and integration of key elements of the planning and forecasting process.

Specific country sites will use BancWare's integrated multi-currency capabilities, third party interfaces for prepayment and cash flows, and the Option Adjusted Value-at-Risk (OAV@R) analytial solution, which evaluates expected return, risk and market value of the entire balance sheet, individual portfolios, or specific positions.

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