SunGard today announced that Desjardins Group, Canada's largest integrated cooperative financial group, has selected SunGard's Adaptiv Credit Risk for credit risk management for entities active on financial markets.
Adaptiv Credit Risk will provide Desjardins Group with a counterparty credit risk management infrastructure to support its credit risk processing. The solution is delivered on a hosted basis for a wide range of trading and banking activities.
Desjardins Group is implementing Adaptiv Credit Risk as part of a larger enterprise-wide Basel II initiative. The solution will help the financial institution to move to an integrated risk management platform for treasury, brokerage and insurance entities. Consolidating data sourced from a number of systems into one central data repository will help Desjardins Group to improve its process automation, increase volumes and ensure better risk capital allocation. Adaptiv Credit Risk will also help Desjardins Group to standardize its measurement methodologies in line with best practices. The improved business workflow and assessment procedures that this will facilitate will help to provide the financial institution with additional trading opportunities and the ability to better utilize applied capital.
Pierre Beaudoin, market and insurance risk management advisor at Desjardins Group, commented: "It's vital for us to be able to have one consolidated view of our risk to ensure that we operate with maximum efficiency. SunGard's Adaptiv Credit Risk helps us to have this view across different lines of business. In addition, by delivering the solution as a hosted service, SunGard is helping us to ensure that we are applying cost-efficient technology."
Juerg Hunziker, president of SunGard's Adaptiv business, said: "We are pleased that Adaptiv continues to strengthen its customer base in the Americas, proving that our solutions are scalable and flexible enough to meet the global and niche businesses of our customers. We welcome Desjardins Group as a valued customer and look forward to working with them."