Grupo Financiero Scotiabank automates ALM with SunGard's BancWare

Source: SunGard

SunGard today announced that Grupo Financiero Scotiabank has selected BancWare to help it automate and streamline asset/liability management (ALM).

BancWare will provide Grupo Financiero Scotiabank integrated ALM, and modeling and analysis tools to help it address its compliance requirements.

The deployment of BancWare ALM will help Grupo Financiero Scotiabank to upgrade its balance sheet management process and better support the increasing number and complexity of products that it has begun offering its clients. The solution will also help the bank to streamline its processes and to optimize intra-day risk management with the ability to measure interest rate risk, run interest rate simulations in real-time and conduct more timely and varied margin sensitivity analysis.

Osvaldo Ascencio, credit and liquidity risk management director at Grupo Financiero Scotiabank, said, "As we increase the sophistication of our banking book, we require a risk management solution that will grow with us and help us to cost-effectively adapt to evolving regulatory and internal requirements. The ability to share views between departments and our sister institutions will help standardize our communications and practices, and assist with strategic decision-making at all levels. BancWare's flexibility, transparency, and ease-of-use were factors in our choice, as was SunGard's approach to implementation."

Terence Faherty, president of SunGard's BancWare business unit, said, "As our customers' businesses grow in size, complexity and global reach, we are pleased to provide comprehensive solutions that can scale to help them meet the demands of a growing balance sheet and changing regulatory requirements. BancWare helps create integrated, enterprise-wide risk management practices that help to increase efficiency, improve decision-making, and reinforce the stability of regional institutions, all of which are of particular importance to our customers in Mexico and Latin America."

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