(PRWEB) July 28, 2011
S-Pankki Oy (S-Pankki), a Finnish commercial bank part of the S-Group, has selected SunGard’s Ambit Asset Liability Management (ALM) solution to help it better manage balance sheet risk and improve strategic and operational decision making. S-Pankki will also use Ambit ALM for margin analysis applying funds transfer pricing (FTP) and earnings-at-risk calculations to help it achieve transparency across the risk-adjusted profitability contributions of the bank’s assets and liabilities.
S-Pankki was established to manage the credit cards, loans and other financial products offered by the S-Group to its retail clients. Ambit ALM will help S-Pankki perform multidimensional analysis of the balance sheet. S-Pankki selected Ambit ALM because of its broad functional coverage, and SunGard’s deep industry expertise.
Aki Gynther, chief financial officer, S-Pankki, said, “SunGard’s proven global reputation and access to local implementation resources guided our decision to select Ambit ALM. 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. The solution will help us establish a strong foundation for comprehensive risk management so we can be prudent in our decision making, yet strategic for maximized returns.”
Andreas Hug, chief operating officer, SunGard’s Ambit Risk & Performance Management business unit, said, “SunGard’s Ambit ALM helps financial institutions like S-Pankki effectively measure and manage risk, forecast balance sheet performance, meet regulatory requirements and improve decision-making.”
S-Pankki Oy belongs to the S-Group, which is the largest hypermarket (supermarket) chain in Finland. S-Pankki is a Finnish commercial bank, which has about 2.3 million customers. S-Pankki offers savings, payment and procurement services related to finance. S-Pankki serves customers in approximately 1,000 of the S-Group offices throughout Finland, as well as online banking and telephone service. S-Pankki’s services are primarily directed at the S-Group's cooperative customer-owners.
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 more than 25,000 customers in 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 of about $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company.
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