23 October 2017

BNL Vita implements SunGard's fastVal

23 September 2010  |  2204 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.niceactimize.comvisit www.atos.net

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
16290 views comments | 18 tweets | 32 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
13950 views comments | 22 tweets | 28 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10280 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
10041 views comments | 13 tweets | 10 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job