SunGard today announced that it has released a new version of BancWare Capital Manager, a software solution that helps financial institutions globally to comply with Basel II regulations. The new version has been enhanced to include an updated framework for managing reporting to multiple jurisdictions under Basel II, to support additional Basel II directives and to help improve related data transformation.
Under Basel II, financial institutions with branches or subsidiaries in multiple countries must report to regulators in the country of their legal entity as well as the country of the branch location or the subsidiary. BancWare Capital Manager now helps financial institutions to more efficiently manage the complexity of supporting multiple cross-border jurisdictions by providing the ability for users to apply multiple regulatory discretions at the data source. This transparency helps make it easier for business users to see which jurisdictional rules have been applied and how consolidation has been carried out, helping them to save time and improve accuracy.
A significant challenge of complying with Basel II is that the regulation is continually evolving. The latest version of BancWare Capital Manager incorporates support for several recently introduced Basel II changes, including benefits under the double-default framework, trading book treatment under Basel II for the current exposure method and internal models methods, capital treatment of failed trades and non-delivery versus payment transactions, and purchased receivables.
In order to help financial institutions overcome the common hurdle of data quality and completeness, BancWare Capital Manager now provides business users with improved data transparency and access. Using formulaic rules, business users can more easily validate and manage the data held in their institution's Basel data mart, without complex SQL queries, or reliance on IT staff.
BancWare Capital Manager is an open, scalable modeling and analysis solution that helps financial institutions meet Basel II regulatory compliance requirements and develop risk-sensitive approaches for managing economic capital. It is used globally by banks and financial institutions of all sizes to help support their compliance with Basel II regulations.
"Due to the continually evolving requirements of The Basel Accord, a 'one size fits ize fits all' application for Basel II compliance is not realistic. BancWare Capital Manager provides users with the flexibility and application control to help them more quickly respond to changing regulations. The new version of BancWare Capital Manager helps make it easier for financial institutions to efficiently report across multiple jurisdictions, stay current with changing regulations and better manage data," said Suhas Nayak, director, Basel II, SunGard's BancWare business unit.