17 October 2017
Find out more

Societe Generale licenses SunGard's BancWare Focus ALM product

19 July 2006  |  3415 views  |  0 Source: SunGard

SunGard today announced that Paris-based Societe Generale has chosen SunGard's BancWare Focus ALM for balance sheet management of several of its retail banking subsidiaries outside of France.

Societe Generale has also selected BancWare Focus ALM for funds transfer pricing calculations and BancWare Data Integration for effective data cleansing and processing.

Over a period of two years Societe Generale plans to execute this large scale BancWare implementation project across its major retail banking subsidiaries outside of France. This network of banks provides a complete range of retail and corporate banking products to 6.6 million clients across the globe.

BancWare Focus ALM will provide static and dynamic modeling that will help the banks to more effectively manage interest rate, foreign exchange and liquidity risk. Some of the banks will install the solution on-site, while others may use it remotely. On- and off-balance sheet products will be modeled in order to help the banks better monitor the impact of market changes on their balance sheets, and make more informed business decisions.

BancWare Data Integration will help ensure data confidence by cleansing, sorting and feeding data into the ALM solution so that risk data can be accessed bank-wide in a secure environment, across a single data platform. Full integration with BancWare Focus ALM for funds transfer pricing will also help to provide more accurate transfer pricing on financial instruments, thus facilitating the evaluation of products, customers, and business units for more proactive decision making.

Muriel Mace, ALM project manager for Societe Generale, said, "Flexibility is key to this project. We were specifically looking for a solution suite that could deal effectively with different languages, character sets and regulations. Equally important was the need for the applications to be user-friendly, and able to be installed in different technological environments. With BancWare, SunGard demonstrated its ability to meet all the necessary requirements, and has the established customer base to prove it."

Terence Faherty, president of SunGard's BancWare business unit, said, "We are proud of the reasons behind Societe Generale's decision to extend its relationship with SunGard via the selection of BancWare. These include the user-friendly BancWare solution suite and implementations executed by experienced consultants, delivered on-time and on-budget. We are committed to working closely with our customers, and as one of Europe's biggest banks, Societe Generale will play an important role in helping us to drive our business and technological expertise. We look forward to a continued successful partnership."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.capgemini.com visit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14469 views comments | 11 tweets | 3 linkedin
Taiwan's Far Eastern International Bank suffers malware attackTaiwan's Far Eastern International Bank su...
13078 views comments | 16 tweets | 22 linkedin
Monzo fends off suitors as current account upgrade beginsMonzo fends off suitors as current account...
8971 views comments | 17 tweets | 14 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
7919 views comments | 15 tweets | 20 linkedin
Ripple blockchain network hits 100-member markRipple blockchain network hits 100-member...
7614 views comments | 13 tweets | 13 linkedin

Featured job

London, UK (or flexible)

Find your next job