Lombard Risk Management plc (LSE: LRM) ("Lombard Risk"), a leading provider of integrated collateral management, liquidity and regulatory reporting solutions for the financial services industry, announces a major global contract with another tier one bank - Société Générale - for its Colline collateral management solution.
This major contract is expected to generate revenues of more than £2m in the first two years and contribute to future years.
COLLINE® is a state-of-the-art, web-based solution designed by experienced business practioners for end-to-end, cross-product collateral management. It provides a consolidated solution for mitigating credit risk while meeting the growing demand for multiple global entities, cross-product margining, Central Counterparty Clearing (CCP), MIS reporting and electronic messaging.
Société Générale Corporate & Investment Banking will use Lombard Risk's COLLINE system to handle its global collateral management operations in six countries across Europe, the Americas and Asia. The bank has licensed the full suite of collateral management modules to create a solution that covers all the financial product sectors (i.e. OTC derivatives, Repo and Securities Lending) and has full Clearing and MIS Reporting functionality.
John Wisbey, CEO of Lombard Risk, commented: "We are delighted to have Société Générale as another tier one client for COLLINE and our first tier one client for our new advanced MIS Reporting module. Two of the most active trading banks in Europe have now chosen COLLINE® to manage their collateral worldwide".