Lombard Risk scores collateral contract with ABN Amro

Lombard Risk scores collateral contract with ABN Amro

Shares in Lombard Risk Management have moved up after the company reported a contract win for its collateral management software at ABN Amro in the Netherlands.

The Dutch bank will be deploying Lombard's Web-based collateral management system Colline. The application runs securely within a Web browser without requiring any desktop software.

The London-based vendor says the contract was agreed after a thorough period of testing, during which the software was pitched against competing offerings, including the system that had been used by the bank historically.

John Wisbey, CEO of Lombard Risk says: "This follows on from a major contract announced in April 2009 with a top Tier 1 European bank, and other deals concluded during the year with good names such as National Bank of Greece, Loomis Sayles and Pacific Life. We are confident that we will be able to update shareholders on further new business wins shortly."

Shares in the vendor gained 1.5 pence on the news, a 37.5% rise from the opening price of 4.75 pence.

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