National Australia Bank (NAB) has implemented SunGard Trading and Risk Systems' Adaptiv system to manage global credit limits across its operations.
SunGard says NAB is able to centrally store credit information using Adaptiv, helping risk personnel to monitor global exposures against limits and manage exceptions on a real-time basis.
The bank will also use Adaptiv to improve its violation management and workflow as well as control of credit policies.
David Kerr, head of strategic development, credit risk management, NAB, says: "Adaptiv has provided us with an integrated framework to monitor our global limits in real time and respond to trade-related activity. Adaptiv helps us to satisfy within seconds traders' requests for pre-deal limit checking and to send warnings and credit line availability levels back to the traders in real time. This means we can now proactively manage our global credit risks."
NAB is hosting Adaptiv centrally, with SunGard providing remote management facility services to monitor the system and provide access across the bank's global sites.
SunGard has been identified as a key vendor partner by NAB, which is looking to assert tighter control over IT risk management following the rogue trading scandal in the bank's markets division last year. The Australian bank already uses SunGard for credit derivatives management. Additionally, it uses SunGard's Mint for SwiftNet connectivity, Compass for superannuation processing, intelliMatch for reconciliations and intelliStor for the storage and retrieval of reports.