Rockall Technologies, a leading financial services solutions company, is delighted to announce that its Systematic Tracking of Collateral management solution (STOC) was selected by Barclays Corporate after a detailed evaluation of the solutions in the market.
Barclays will implement STOC in their Structured Trade and Commodities Finance (STCF) and Financial Institution Trade Risk Management businesses, initially in the United Kingdom with a view to further implementations outside of the UK.
STOC is a credit risk based software application used to automate the management and tracking of credit facilities, credit limits, exposure and collateral limits. Facilities, limits and collateral entities are both input and imported into the STOC system. Thereafter, limits on a portfolio basis and on a case-by-case basis are monitored. This is achieved by the determination of collateral eligibility, the marked to market valuation of collateral, real time controls on limits and overall real-time portfolio analysis and reporting.
Credit Risk management on a portfolio basis and on a case-by-case basis is a significant challenge faced by financial institutions in today's world. The current climate demands that real-time risk management be a fundamental part of the operations of a financial institution. Barclays recognises that the STOC application provides state-of-the-art functionality to allow it to minimise risk in its business whilst continuing to deliver the level of service demanded by its customers.
James Bidwell, Head of Trade Product Development at Barclays said managing our risks and exposures in today's volatile markets is a key element of our business and we are pleased to partner with Rockall to provide solutions to enable us to do this with rigour and efficiency.
As Rockall CEO Luke Nestor explains, "Rockall's product has once again proven to be highly flexible and will facilitate Barclays goal to have a first-rate credit limit and collateral management process in its STCF business. We are truly delighted to have Barclays as a partner and we look forward to a long and mutually rewarding relationship."