Fortis Bank selects SunGard's Credient; InTrader gets browser interface
29 July 2003 | 5673 views | 0
Belgium-based Fortis Bank has selected SunGard Trading and Risk Systems' Credient software to manage global limits and exposures at its merchant banking division.
Credient will consolidate the division's global credit information to provide an aggregated real-time view of credit limits and exposures.
Around 100,000 deals per month will pass through the system from across the bank's global trading operation, for pre-deal limit checks, exposure measurement, limit updates, violation management and credit risk reporting.
Charles Courouble, head, merchant banking risk management, Fortis Bank, says the bank currently uses SunGard for its credit limits management and has experienced in excess of 99% uptime and has averaged under three seconds response time on 98% of transactions.
"Credient will help us more effectively manage and control our credit policies and global risks, and increase operating efficiencies," he adds.
Separately, SunGard Securities Processing has launched a Web version of its portfolio management, clearance and settlement system, InTrader.
InTrader 9.0 now features a browser-based graphical user interface which replaces the system's traditional menu-driven interface to provide users with easier and more cost-effective remote access via the Internet.
The system has been in acceptance testing at Boston-based Eastern Bank Capital Markets, which uses InTrader on an ASP basis. John Mullin, vice president at the firm says the new release minimises the technical infrastructure required to access the system, making it cost-effective and seamless to deploy.
The product uses Java technology and runs on industry standard Web server hardware.