SunGard today announced that ten more Spanish savings banks have chosen SunGard's BancWare for asset liability management (ALM) to help monitor and manage their interest rate, foreign exchange and liquidity risk.
They will also be using BancWare for data integration which is fundamental to effective balance sheet management. With the addition of these banks as customers, SunGard's BancWare will now be used to manage a total of over €2 trillion in assets across the balance sheets of more than forty banks and savings banks in Spain.
These regional savings banks, all part of the Confederación Española de Cajas de Ahorros (CECA), will individually implement BancWare for ALM at their respective locations across Spain. Data from their core banking systems will be cleansed, sorted and fed into the ALM model for analysis in order to run calculations and produce reports detailing future earnings based on customer behaviour and rate predictions. This information will help each of the banks to make strategic business decisions to help improve their risk/return profile.
Xavier Boldú, director del area de organización e infrastructuras for Caixa Catalunya, said, "We feel confident that SunGard's BancWare can effectively model and manage Spanish products and produce reports. There was a need to strengthen our balance sheet management process and it was perfect time and made financial sense to capitalize on the CECA project."
Antonio Juan Medrano, director de gestión de activos financieros for Caja Ahorros Mediterráneo, said, "We were looking to implement a system that is easy to use, time and cost-efficient and that meets the requirements of the Basel II framework. Based on our knowledge of SunGard, we will successfully meet these criteria while simultaneously benefiting from enhanced knowledge of our future business."
Andreas Hug, managing director, EMEA of SunGard's BancWare business, said, "The decision taken by these CECA members to select BancWare for ALM is a positive reinforcement of our existing presence in the region. With more than forty customers in Spain, we are able working alongside local resources to meet the needs of Spanish banks of varionish banksnish nish banks of various sizes, from Grupo Santander to Caixa Ontinyent."