23 October 2017
visit www.response.ncr.com

Glitnir rolls out EDB lending technology

31 January 2008  |  3249 views  |  0 Source: EDB Business Partner

EDB Business Partner (EDB), a leading provider of software solutions for the banking industry, today announces that Glitnir, a mid-market global corporate and investment bank with retail and commercial banking services, is implementing EDB's lending solution (ELS) for the bank's structured finance and syndicated lending operations.

Glitnir will leverage the system to provide its customers in the global food, sustainable energy and offshore supply markets with more efficient work processes and enhanced risk analysis tools.

The project is part of a programme called One Glitnir, which aims at building a platform of growth for the bank's internal IT systems following a period of mergers and acquisitions in the Nordic region. Glitnir aims to implement the software in Iceland and its UK subsidiary by the end of March 2008 before rolling the system out to its other global offices. Initially, EDB's lending solution replaces Glitnir's internal back office systems for administration of syndicated and bilateral loans, enabling the bank to gear up for future growth and expand into new geographical markets. The system will also support Glitnir in becoming part of larger, more complex deals within the syndicated lending space.

"In light of regulatory requirements such as Basel II, it is vital to implement effective business controls to achieve compliance. EDB's corporate lending solution will allow us to capture data in a more efficient manner. In addition, we can provide our customers with enhanced levels of accountability, traceability and user friendliness, which is in line with our overall growth plans," says Páll Kolka Ísberg, Managing Director, Shared Support Office at Glitnir.

Joergen Roed, Head of UK Sales at EDB adds: "Following the credit crunch, trust in the securitised loans market has decreased. As a result, firms are increasingly looking to syndicated lending as an alternative way to grow their portfolios and to spread the risk inherent in lending deals. To facilitate this, corporate banks must put in place systems to manage this risk and effectively support their structured finance and syndicated lending operations."

EDB supplies a standard system as well as system implementation for Glitnir's structured finance and syndicated lending activities.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Register nowvisit www.niceactimize.comvisit www.vasco.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
18990 views comments | 26 tweets | 38 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15057 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10917 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
8948 views comments | 14 tweets | 28 linkedin

Featured job

New York, NY - USA (some flexibility on location)

Find your next job