Banque Cantonale de Fribourg Selects SunGard’s Ambit for Liquidity Risk Management
Banque Cantonale de Fribourg (BCF), rated by Bilan as the best Cantonal Bank in Switzerland*, has extended its use of SunGard’s Ambit Risk & Performance Management solution by selecting it to support its liquidity risk management operations.
(Vocus/PRWEB ) November 11, 2009 -- Banque Cantonale de Fribourg (BCF), rated by Bilan as the best Cantonal Bank in Switzerland*, has extended its use of SunGard’s Ambit Risk & Performance Management solution by selecting it to support its liquidity risk management operations. The Ambit solution will help BCF’s risk management team to meet new liquidity risk requirements and establish new processes for the measurement of potential liquidity gaps. It will also help BCF to continuously monitor its liquidity situation.
Ambit will help BCF to calculate the liquidity risk measures necessary to meet enhanced stress testing requirements recently mandated by the Bank for International Settlements (BIS) and local regulators. It will also help BCF to include its entire balance sheet in its liquidity risk analysis, giving it a better understanding of its current and future liquidity - both under normal conditions and under idiosyncratic or systemic stress testing. Finally, the solution also offers BCF advanced reporting capabilities that can help it to efficiently back-test its contingency planning.
Luc Jacquat, head of risk management at BCF, commented, “The liquidity risk solution that SunGard’s Ambit offers us will help us to strengthen the bank's balance sheet by reducing our vulnerability to liquidity risk events. It will also help us to meet present and future regulatory environments. SunGard’s strong track record in Switzerland, combined with its knowledge of the liquidity risk management needs of Cantonal banks such as us, make this solution the ideal choice for BCF.”
Andi Hug, group vice president for SunGard’s Ambit Risk & Performance business unit, commented, “New regulatory requirements facing Swiss Cantonal Banks are going to make liquidity risk a major focus moving forward. By expanding its use of the Ambit Risk & Performance Management solution to include liquidity risk management, BCF is gaining an effective, knowledgeable, cost-efficient way to manage its liquidity risk, that will also assist with regulatory compliance.”
*According to Bilan, June 2009 (www.bilan.ch)
About Banque Cantonale de Fribourg
Banque Cantonale de Fribourg is the state bank of the canton of Fribourg. The bank provides a wide range of financial products and services including loans and credits, trading and asset management to regional private and corporate customers.
About Ambit
SunGard’s Ambit is a banking solution suite for retail, commercial and private banks. It provides banking professionals with solutions that support front-, middle- and back-office operations, as well as solutions for financial management, risk and compliance. Ambit helps banks improve customer service management, streamline business processes, comply with regulations and capture growth opportunities. For more information, visit www.sungard.com/ambit.
About SunGard
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at www.sungard.com.
*2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
Trademark Information: SunGard, the SunGard logo and Ambit are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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