Mexican banks choose SunGard for operational risk management
08 May 2009 | 5317 views | 0
Following recent regulatory changes in the country, a group of Mexican banks have signed up for SunGard's operational risk management technology.
Invex Servicios Corporativos, DE CV Invex Grupo Financiero, Banco Regional de Monterrey, Institución de Banca Múltiple, Banregio Grupo Financiero, Banco Monex, Institución de Banca Múltiple, Monex Grupo Financiero, Banco Autofin Mexico, Institución de Banca Múltiple and Banco ve por Mas, have all signed for the vendor's Ambit Risk & Performance platform.
SunGard says Ambit will help the banks identify, quantify and manage operational risk as well as comply with Basel II regulatory requirements. The system will provide them with enterprise-wide loss event tracking and management reporting tools to improve operational efficiency and control risk exposure.
Ana Cecilia Reyes Esparza, president, OpRisk Committee, Mexican Banks Association, says: "We believe that by adopting better operational risk principles and practices, we can manage our economic capital more efficiently. SunGard's Ambit Risk & Performance solution provides a platform to help us accomplish this."