Press Releases
Industrial Development Corporation of South Africa Selects SunGard's Ambit Asset Liability Management Solution to Enhance Risk Control and Awareness
August 2, 2010 — Boston, MA
The Industrial Development Corporation of South Africa (IDC), a National Development Finance Institution that promotes economic growth and industrial development in South Africa, has selected SunGard’s Ambit Asset Liability Management (ALM) solution. The solution will help IDC control risk through balance sheet management, which will help boost profitability measurement and management, as well as attract investment.
As part of its core strategy to optimize its financial management, IDC plans to diversify its balance sheet by expanding into interest rate sensitive products and generate new revenue streams. SunGard’s Ambit ALM solution will help IDC manage this diversification by providing risk adjusted profitability metrics. These metrics will help IDC measure, manage and monitor globally recognized indicators, such as leverage, stable funding and liquidity ratios. Through effective control of the full balance sheet, IDC will be in a position to attract investment, mitigate risk and support organic growth.
Lerato Mangope, head of corporate funding at IDC, commented, “As a self-financing development finance institute, we are constantly innovating to step up our funding, and ensuring that our revenue streams allow us to support IDC’s mandate of supporting and developing industries. SunGard’s Ambit ALM solution will help us efficiently manage our debt, assets and equity by helping us to control our risk factors.”
Andreas Hug, general manager of SunGard’s Ambit Risk & Performance Management business unit, said, “In the aftermath of the global financial crisis, financial institutes are looking at solutions to help control risk with smart balance sheet management. SunGard’s Ambit ALM solution provides integrated risk management that helps facilitate multidimensional analysis of the balance sheet. With more accurate and detailed data and analysis, managers can better understand the impact of market changes on the balance sheet, and make more informed business decisions.”
About Industrial Development Corporation
The IDC is a self-financing Development Finance Institution (DFI), whose primary objectives are to contribute to the generation of balanced, sustainable economic growth in Africa and particularly to the economic empowerment of the South African population, thereby promoting the economic prosperity of all citizens. The IDC achieves this by promoting entrepreneurship through the building of competitive industries and enterprises based on sound business principles.
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 performance. Ambit helps banks retain and acquire customers, improve staff efficiency and effectively measure and allocate their capital. For more information, visit www.sungard.com/ambit.
About SunGard
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, please visit www.sungard.com
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