Citizens Financial Group, a subsidiary of the Royal Bank of Scotland, has selected SunGard Trading and Risk Systems' BancWare product for asset/liability management, data management and funds transfer pricing.
Citizens Financial Group says it chose BancWare because of its comprehensive instrument coverage and its ability to easily customise reports to process and management requirements. It also cites BancWare's CMO interface to Intex, which provides structured fixed income data and analytical functionality directly into BancWare, as a key factor in the decision.
John Gavin, senior vice president, asset liability management at Citizens, says: "BancWare allows us to use the same data throughout our organisation, which allows us to spend more time on important things like analysis as opposed to data input and cleansing."
Citizens Financial Group is headquartered in Rhode Island and has approximately $53 billion in assets.