Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that FirstRand Banking Group, one of South Africa's largest financial institutions, has selected the Fiserv KRM solution to enhance its risk management processes in asset/liability management (A/LM), liquidity and funds transfer pricing to replace its existing legacy application.
"Fiserv has extensive knowledge and expertise in this industry and has a strong reputation for delivering on time and on budget. This is why Fiserv KRM was the obvious choice," said Jaco van der Walt, head of macro portfolio management at FirstRand.
Fiserv KRM enables the bank to assess risk on an integrated basis across A/LM, liquidity and credit, and it breaks the traditional paradigm that views risk in silos. This fits comfortably with FirstRand's integrated approach to balance-sheet management.