17 August 2017
visit www.avoka.com

BNL Vita implements SunGard's fastVal

23 September 2010  |  2184 views  |  0 Source: SunGard

BNL Vita, an Italian banking insurance company specializing in the life sector, has implemented SunGard's FastVal, an independent valuation service for vanilla and complex over-the-counter (OTC) derivatives, to help it achieve ISVAP regulatory compliance. SunGard's FastVal 3.0 will help BNL Vita's financial department independently value its OTC derivative portfolios and gain greater transparency of its valuations.

To meet ISVAP's Italian insurance regulations, BNL Vita required a single solution that could cover all its valuation needs and provide consistent and reliable processes when valuing non-liquid instruments. FastVal provides a customized output report to help BNL Vita consider key elements of calculations, such as credit and liquidity spread. In addition, it offers reporting views that enable valuations to be decomposed on single derivative elements. BNL Vita also needed a solution which could be implemented in a short timeframe. With FastVal 3.0 delivered on as ASP basis, BNL Vita was able to run valuations on portfolios containing vanilla and complex instruments within two months.

Maurizio Pellicano, general manager of BNL Vita, said, "We required a single valuation solution to help us increase efficiency, improve transparency and meet our national regulatory requirements. Thanks to SunGard, we were able to go live with FastVal within a tight deadline. Now that implementation is complete, we can rely on FastVal's independent valuation solution to help us reduce our operational risk."

Gavin Lee, chief operating officer of SunGard's FastVal business unit, said, "BNL Vita needed a solution to provide greater transparency in the way its OTC portfolios are valued. The completion of this implementation has further strengthened our relationship with BNL Vita, and the flexibility of the solution will help the company to evolve with future changes in the industry."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.dorsum.eudownload the paper now

Top topics

Most viewed Most shared
Coinbase raises $100mCoinbase raises $100m
10319 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9694 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9572 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8524 views comments | 6 tweets | 21 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
7999 views comments | 1 tweets | 2 linkedin

Featured job

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

Find your next job