Swedbank Selects SunGard’s Ambit Risk and Performance Management Solutions for Liquidity Stress Testing and Compliance
March 15, 2011 — Stockholm
Swedbank, a leading bank in Sweden and the Baltic region, has chosen SunGard’s Ambit Asset Liability Management, Ambit Liquidity Risk Management, and Ambit Profitability Management solutions to help meet global regulatory requirements including Swedish stress testing regulations. The solutions will help Swedbank implement a modular, integrated and comprehensive approach to liquidity risk management, while helping the bank improve balance sheet management, run stress tests, proactively manage the cost of contingent liquidity, enhance instrument coverage, and perform location-specific analysis.
Swedbank selected SunGard's Ambit solutions to perform stress testing for idiosyncratic, market-wide and combined scenarios, which will assist in the bank’s contingency planning and in managing liquidity. As a result of the global regulations on stress testing liquidity, the Swedish Finansinspektionen (FSA) issued a policy statement in Q4 2010 for all Swedish banks. SunGard’s Ambit will help Swedbank to better measure its liquidity and comply with the new regulations.
Gunilla Domeij-Hallros, senior vice president of group treasury at Swedbank, said, “One of our main objectives is to be able to demonstrate to both clients and regulators that our banking operation is robust and conservatively managed with strong systems to manage risk and liquidity.Because of SunGard’s knowledge of global regulations and its regional presence in the countries we service, we will be able to implement an intuitive, comprehensive risk management system to help us meet regulatory requirements, as well as identify and simulate strategies that can help minimize the cost of and exposure to liquidity risk.”
Andreas Hug, managing director of SunGard’s Ambit Risk & Performance Management business unit, commented, “Lack of liquidity was one of the prime causes for the global financial crisis. SunGard’s Ambit Risk and Performance Management solutions help our customers comply with industry regulations as well as focus on more rigorous stress testing to increase transparency. This can help banks like Swedbank to manage liquidity and maturity transformations for their client deposits across different asset classes and major currencies, while complying with the new Swedish regulations.”
About Swedbank AB
Swedbank is a full-service bank for both private individuals and companies in the home markets Sweden, Estonia, Latvia and Lithuania. Its core business serves a majority of private individuals as well as small- and medium-sized companies. It has 9.5 million private customers and 688,000 corporate customers with 340 branches in Sweden and 220 branches in the Baltic countries. The group is also present in Copenhagen, Helsinki, Kaliningrad, Luxembourg, Marbella, Moscow, New York, Oslo, Shanghai, St. Petersburg, Ukraine and Tokyo. In December 2010, the balance sheet amounted to SEK 1,716 billion and the number of employees totaled about 17,200.
About SunGard's 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 http://www.sungard.com/ambit.
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 of about $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, please visit 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.