Nordea Selects SunGard's Adaptiv Analytics
Nordea Bank, a leading Nordic financial services group, has selected SunGard's Adaptiv Analytics to help enhance its measurement and management of counterparty credit exposure in its capital markets products.
London (Vocus/PRWEB ) May 19, 2009 -- Nordea Bank, a leading Nordic financial services group, has selected SunGard's Adaptiv Analytics to help enhance its measurement and management of counterparty credit exposure in its capital markets products. The solution, which provides a framework for distributing complex portfolio-level risk calculations across a grid of servers, will help Nordea to calculate a more risk-sensitive credit change metric and thereby help it to make better informed trading decisions.
Counterparty credit risk is an area of intense focus for many financial institutions. Measuring and managing it accurately can involve billions of complex trade valuations and thousands of simulations. Adaptiv Analytics will be distributed across Nordea's server grid, meaning it will be able to scale according to the growing calculation requirements. It will help to manage an increasingly large workload and will accommodate the addition of new products into the simulation as required.
Peter Lunding, business chief information officer, Capital Markets Products at Nordea, said: "We selected Adaptiv Analytics because we required a calculation engine that is capable of performing under highly volatile conditions, where performance and reliability are key. We have a good and long relationship with SunGard and are pleased with the level of support SunGard has provided during implementation. "
Juerg Hunziker, president of SunGard's Adaptiv business unit, said, "The current financial climate has made it more important than ever for our customers to be able to rely on proven, robust risk management systems. With Adaptiv Analytics, our aim was to help remove many of the headaches involved in running complex credit exposure calculations, and to provide Nordea with real transparency in the fastest time possible."
About Nordea
Nordea's vision is to be the leading Nordic bank, acknowledged for its people, creating superior value for customers and shareholders. Nordea is enabling their customers to reach their goals by providing a wide range of products, services and solutions within banking, asset management and insurance. Nordea has around 10 million customers, approximately 1,400 branch offices and a leading net banking position with 5.1 million e-customers. The Nordea share is listed on the OMX Nordic Exchange in Stockholm, Helsinki and Copenhagen.
About Adaptiv
SunGard's Adaptiv provides enterprise-wide credit and market risk management and operations solutions for financial services institutions. Adaptiv assists institutions of varying size and complexity to deploy technology to meet both internal and regulatory requirements for risk management and operational control. Adaptiv helps financial services institutions from the banking, hedge fund, asset management, insurance and corporate sectors with our deep understanding of risk management and operational processes.
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, including the world's 25 largest financial services companies.
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 five times. For more information, please visit SunGard at www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
Trademark Information: SunGard, the SunGard logo and Adaptiv 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.
For more information, please contact:
Toby West
SunGard Financial Systems
Tel: +44 (0) 20 8081 2426
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