Paris-based Crédit Foncier de France (CFF) has selected SunGard Trading and Risk System's BancWare product for cross-currency interest rate risk management and product modeling. The solution will support the bank's entire €40 billion balance sheet across its six legacy systems.
The bank will use BancWare Insight to collect, validate and enrich its position from six legacy systems to perform transfer price calculation and assignment. BancWare Convergence will then import the data for asset/liability management (ALM) and advanced, multi-currency behavior modeling. Convergence will be used to model and report on CFF's multiple lines of business, including the bank's mortgage business.
Jean Marc Vargel, director at CFF, says: "We selected the solution because of its ability to provide 100% confidence in our data, and because of its flexible platform, on which we can perform sophisticated modeling of our instruments. BancWare's income accrual and balance sheet modeling proved to be more robust and accurate than that of competing solutions."