London (PRWEB) November 04, 2011
Metro Bank PLC, Britain's first new High Street bank in over 100 years, has selected SunGard’s Ambit Asset Liability Management (ALM) solution. To support its client service proposition, Metro Bank will use Ambit ALM to help it maximize its net interest income, by helping it ensure the accurate measurement and management of asset-liability gaps and basis risk during this period of low interest rates and acute margin compression.
Metro Bank will use Ambit ALM for static and dynamic asset-liability management, liquidity risk management and hedge accounting. Ambit ALM will help the bank perform multi-dimensional analysis of the balance sheet, run stress tests and create reports. Ambit ALM will also help the bank identify and simulate strategies that minimize the cost of and exposure to liquidity risk and achieve compliance with the new liquidity management regulations of UK’s Financial Services Authority (FSA). Ambit ALM’s hedge accounting functionality will help Metro Bank avoid undesirable volatility in earnings using micro fair value and portfolio fair value hedges.
Mike Brierley, chief financial officer at Metro Bank, said, “SunGard’s Ambit ALM will help us establish a strong foundation for liquidity and interest rate risk management so we can be prudent in our decision making, yet strategic for maximized returns. SunGard took a consultative approach to showcase the direct benefits of the solution by performing simulations using our own data. This convinced us that Ambit ALM closely met both our business and IT requirements.”
Andreas Hug, chief operating officer for SunGard’s Ambit Risk & Performance Management business unit, said, “As regulatory pressure continues to grow in this low interest rate and highly volatile environment, our customers are looking to manage liquidity risk and basis risk to help maximize interest income. SunGard’s Ambit ALM helps effectively measure and manage these risks, forecast balance sheet performance and meet regulatory requirements.”
About Metro Bank PLC
Metro Bank PLC is registered at One Southampton Row, Holborn, London and is regulated by the Financial Services Authority. Metro Bank was co-founded by Vernon Hill and Anthony Thomson. It is based on the successful Commerce Bank model that was established by Vernon Hill in the US in 1973. A UK management team has worked with Vernon Hill to help bring this model to the UK market. Metro Bank operates retail hours, not banking hours. Its open 7 days a week (8am- 8pm Monday to Friday, 8am- 6pm Saturday, 11am- 5pm Sunday), every day of the year apart from Good Friday, Easter Sunday, Christmas Day and New Year’s Day.
About SunGard’s 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 performance. Ambit helps banks retain and acquire customers, improve staff efficiency and effectively measure and allocate their capital. For more information, visit http://www.sungard.com/ambit.
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 20,000 employees and serves over 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, 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 of about $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, visit http://www.sungard.com.
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