23 February 2018
Visit www.capgemini.com/worldreports

First BanCorp licenses SunGard's BancWare

29 May 2007  |  1963 views  |  0 Source: SunGard

SunGard today announced that FirstBank of San Juan, Puerto Rico, a subsidiary of First BanCorp (NYSE: FBP), has selected BancWare to help it automate and streamline its financial and risk management processes.

BancWare will provide FirstBank with integrated asset/liability management (ALM), budgeting and forecasting, profitability, and funds transfer pricing tools to help the bank address its compliance requirements and better support its business strategies.

BancWare's ability to provide a holistic framework for financial and risk management across the balance sheet was key to FirstBank's decision to select the solution to help it seek better returns and retain its leadership position in Puerto Rico. BancWare will help FirstBank to improve efficiency through automation of its manual regulatory compliance reporting. BancWare will also help the bank to meet the growing demand for more and better information by providing risk-adjusted performance measures for strategic business decisions.

Fernando Scherrer, chief financial officer of First BanCorp, said, "As the bank grows, we increasingly need to more quickly and accurately analyze risk and performance measures for use in our decision-making. With its holistic approach to risk and financial management, BancWare supports the way we do business."

Terence Faherty, president of SunGard's BancWare business unit, said, "The partnership with FirstBank is an exciting opportunity for SunGard to help one of the 50 largest U.S. banks achieve its vision of obtaining a fully-integrated risk management solution."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.swift.com/your-needs/instant-paymentsRegister for the webinarvisit www.capgemini.com/worldreports

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
10944 views comments | 14 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10087 views 3 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
7874 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
7558 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7311 views comments | 10 tweets | 14 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job