BMO Financial Group has gone live with SunGard's Adaptiv Credit Risk software in an implementation that spans North America, Europe, and Asia giving access to over 1300 users globally.
The Canadian bank is using Adaptiv Credit Risk to replace its existing RXM and in-house limit excess workflow systems. The new system manages monthly deal volumes of over 80,000 trades via on-line interfaces and intra-and end-of-day batch updates, providing global access to users via a Web front end.
In a separate deal, International Exchange Bank (iBank) of the Philippines is to implement SunGard’s BancWare Basel II Capital Manager (B2CM) package for credit risk portfolio management and to help achieve Basel II compliance across its entire retail and wholesale portfolios.
Says iBank president and CEO, Ramon Y Sy: "While Basel II compliance is an important issue for financial institutions, our decision to purchase the entire suite of SunGard risk solutions goes beyond the mere need to comply. We are looking at these risk and performance management solutions to help us achieve a leading edge and competitive advantage in Philippine banking."