India's HDFC Bank has deployed SunGard's Adaptiv Market Risk technology at its head office in Mumbai to support company treasury operations.
SunGard says the system will be used to support HDFC's front-to-back office processing and risk management for: money market, debt securities, foreign exchange and derivatives activities and Basel II compliance.
The platform, says SunGard, will also enable the bank to extend its product coverage by creating new instrument types and integrating new proprietary or third party pricing models. Data model field customisation, internal workflow automation via scripting and client-specific analytical ad-hoc reports may also be produced.
Sudhir Joshi, treasurer, HDFC comments: "Adaptiv will provide centralised processing out of Mumbai for cross-asset trading, risk management and back-office operations, and will help HDFC Bank to achieve improved processing and operational efficiencies."
HDFC becomes SunGard's first live Adaptiv customer in India.