Muscat, Oman (PRWEB) January 30, 2012
Oman International Bank (OIB), a leading retail and commercial bank in Oman, has selected SunGard’s Ambit Treasury Management, Ambit ALM and Ambit Credit Risk Management solution suites to help integrate treasury operations, reduce operational costs and better manage its cash, liquidity and balance sheet risk. SunGard’s Ambit solutions will also give OIB an improved view of its commercial credit risk and the ability to perform real-time regulatory reporting.
Ambit Treasury Management will help the bank establish a centralized front-to-back-office treasury operation providing support for multiple asset classes, which will help the bank easily extend services to clients as its business expands. With Ambit ALM, OIB can perform funds transfer pricing and multi-dimensional analyses of the balance sheet by modeling customer behavior, economic valuation, interest rate scenarios, and a wide range of other variables.
Douglas Emmett, general manager at Oman International Bank, said, “SunGard’s Ambit integrated treasury and risk solution will help us consolidate onto a single platform for treasury and asset liability management. Ambit will help OIB more accurately identify, manage and minimize risks within our business. We selected SunGard because of the strength of the Ambit solution suite, its deep industry expertise and its strong support infrastructure in the Middle East.”
Wissam Khoury, managing director for the Middle East at SunGard Financial Systems, said, “Banks are undergoing rapid expansion in the Middle East and SunGard’s integrated approach to treasury management and asset liability management is helping our customers capitalize on this change. SunGard’s Ambit solution suite is helping banks across the region develop a complete and accurate view of risk while delivering improved visibility and control through a single view of their cash and liquidity.”
About Oman International Bank S.A.O.G
Oman International Bank SAOG is an Oman-based bank that provides banking and financial services through a network of branches in Oman, India and Pakistan. The Bank offers its services primarily through four business units: Individual Banking, Corporate Banking, Institutional Banking and Treasury. Its Individual Banking unit offers deposit and card products, loans and remittances. Its Corporate Banking segment offers deposit products, syndicated loans, term loans, project financing and bill discounting through two subdivisions, namely Small & Medium and Corporate Business. The Institutional Banking segment offers products and services through two subdivisions: Institutional Banking, which includes vostro accounts, demand draft and telex transfers, and Foreign Trade, which offers letters of credit, bills for collection, merchant services and bank guarantees. Its Treasury unit offers foreign exchange, money market, interest rate market and structured solutions. For further details, please visit: http://www.oib.co.om
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 compliance. Ambit helps banks retain and acquire customers, achieve dynamic staff efficiency and measure and allocate their capital. For more information, visit http://www.sungard.com/ambit.
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