Press Releases
Bank of Nanjing Selects SunGard's Ambit for Integrated Treasury Management
November 24, 2008 —
Shanghai, 24th November 2008 –The Bank of Nanjing (http://www.njcb.com.cn), one of China’s leading city commercial banks, has selected SunGard’s Ambit Treasury Management solution to provide an integrated treasury management approach across its domestic and foreign currency products, and to help improve its risk management practices. (www.sungard.com/ambit)
Bank of Nanjing selected SunGard to help streamline its treasury operations. The Ambit Treasury Management solution will replace its existing systems and manage its local money market and fixed income products, as well as its foreign exchange deals. Ambit Treasury Management will also help the bank to manage its derivatives, helping it to maintain its trading book on a single system.
Shu Xingnong, vice president at Bank of Nanjing, commented: “A key requirement of our selection process was the ability to implement a single system to manage our local and foreign instruments. Prior to the Ambit solution, we were running one system for local trades and another for foreign trades. In addition, the Ambit Treasury Management solution gives us a front-to-back-office approach, meaning our straight-through processing and efficiency capabilities can be greatly improved.”
Risk management capabilities have taken on increased importance for all banks in China. The Ambit Treasury Management system will provide the Bank of Nanjing with a market risk management tool kit that includes scenario simulation and VAR for the bank’s traditional financial instruments as well as the new derivatives it wants to trade. The solution’s limit management capability will also help the bank ensure its interbank credit risk remains within controllable boundaries.
Zhou Hua, president of SunGard China, commented: “The banking arena in China is continuing to expand and there is a growing need for banks to implement international best practice infrastructures, operations and processes. SunGard will help the Bank of Nanjing to improve its treasury operations by maintaining a single solution across its trading book, and improve its risk management capabilities. We look forward to working closely with them in the future.”
About Bank of Nanjing
Bank of Nanjing Corp. Ltd is a new-style joint-ownership commercial bank made up of state, domestic-held, foreign-held and public stocks. The Bank of Nanjing, headquartered in Nanjing city, presently has 1.837 billions RMB worth of registered capital. It operates over 60 branches with more than 1,600 employees across China.
About Ambit
SunGard’s Ambit is a banking solution suite for retail, commercial and private banks. It provides banking professionals with solutions that support front-, middle- and back-office operations, as well as solutions for financial management, risk and compliance. Ambit helps banks improve customer service management, streamline business processes, comply with regulations and capture growth opportunities. For more information, visit www.sungard.com/ambit.
About SunGard
With annual revenue of $5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world’s 25 largest financial services companies. Visit SunGard at www.sungard.com
Trademark Information: SunGard, the SunGard logo and Ambit are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.