(Vocus) February 3, 2010
Liberty Bank, Connecticut’s oldest mutual bank with more than $3 billion in assets, has chosen SunGard’s Ambit BancWare Risk & Performance Management solution to help enhance its risk reporting and analysis. The solution will help Liberty Bank access its data more quickly and efficiently, helping it achieve a clearer view of risk levels and an improved understanding of performance drivers across all aspects of the bank.
Following a review of all its existing IT systems, Liberty Bank decided that it needed a new risk and performance management solution that would meet its scalability requirements and consolidate risk management and profitability operations onto a single integrated platform. Ambit BancWare‘s integrated asset-liability management, profitability and budgeting functions will help Liberty Bank improve its overall balance sheet management, profitability and forecasting analysis.
Kathy Doucette, treasurer at Liberty Bank, commented, “We required a risk and performance solution that would provide us with the ability to efficiently access and analyze our data. After an extensive vendor review process we decided that SunGard’s Ambit BancWare solution provides Liberty Bank with a fully integrated and flexible solution that can be implemented quickly. We look forward to leveraging flexible, in-depth reporting across our entire business, which will help us make better strategic decisions.”
Andi Hug, group vice president for SunGard’s Ambit BancWare Risk & Performance business unit, commented, “We are confident that our Ambit Bancware solution will provide Liberty Bank with the sophisticated, timely reporting capabilities it seeks. The flexible and scalable architecture of the Ambit BancWare Risk & Performance Management solution will help Liberty Bank focus on improving profitability and enhancing its banking strategy, now and in the future.”
About Liberty Bank
Established in 1825, Liberty Bank is Connecticut’s oldest mutual bank, with more than $3 billion in assets and 37 banking offices throughout the central, eastern, and shoreline areas of the state. As a full-service financial institution, Liberty offers consumer and commercial banking, home mortgages, insurance, and investment services. Rated outstanding by federal regulators on its community reinvestment efforts, Liberty maintains a longstanding commitment to superior personal service and unparalleled community involvement.
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 http://www.sungard.com/ambit.
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 http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo, Ambit and BancWare 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.