Italy's Credem implements SunGard's BancWare for Basel II compliance
17 May 2007 | 2009 views | 0
SunGard today announced that Italian bank Gruppo Bancario Credito Emiliano (Credem) has selected SunGard's BancWare Capital Manager to help it implement the Standardized and IRB foundation approaches for Basel II compliance.
Based in Reggio Emilia, Credem, which has a network of 500 branches and serves clients across Italy, will be using BancWare Capital Manager for regulatory capital calculations and reporting, and for full compliance with Pillars 2 and 3 of the Basel Accord.
BancWare will help Credem to extract, cleanse and sort data from across the bank's retail balance sheet for use in the capital management process. Seamless integration between data sources and BancWare Capital Manager will help ensure the accuracy and cleanliness of data. SunGard works in partnership with an Italian firm Oasi, which provides a solution for regulatory reporting that meets specific requirements set forth by the Bank of Italy. Using BancWare, the bank will also be able to produce capital calculation reports in both number and code format, both of which are specifically required by the Bank of Italy.
Marino Ranzieri, head of risk management for Credem, said, "SunGard's BancWare Capital Manager will help us address our Basel II capital requirements and regulatory reporting by providing a single, integrated solution for data management and capital analysis."
Andreas Hug, managing director of SunGard's BancWare business unit, said, "BancWare's provision of reporting functionality that meets the specific requirements of the Bank of Italy helps Italian banks to comply with Basel II as well as local banking regulations, while enhancing overall capital management."