Standard Settles on SunGard For Basel II Compliance
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Emerging market specialist, Standard Bank Group is to use SunGard's Basel II Capital Manager for Basel II compliance and capital management. Capital manager will be used across 23 locations and in both wholesale and banking business. Included in the deal is Basel II Data Manager to aggregrate data across the bank's technology platform. Annelie Schnaar-Campbell, head of Basel II implementation, Standard Bank, said, "We chose the Basel II Capital Manager for its ability help provide comprehensive compliance with Basel II regulations, and help add value through integration of regulatory and economic capital components. As a proven solution already in use at a number of European banks, we believe that the Basel II Capital Manager will help us not only to minimize implementation risk but also help us to deliver a sound solution within the required timeframes. As a customer of SunGard's Adaptiv, intelliMATCH and Front solutions, we look forward to this expanded relationship." Richard Reeves, managing director, Basel II, at SunGard's BancWare business unit, said, "As demonstrated by a number of successful implementations, the Basel II Capital Manager can be easily and rapidly deployed, with extensive, preconfigured models and calculations out-of-the-box. The solution is also easily enhanced with new models and analytical tools, helping our customers to quickly and cost-effectively evolve alongside the changing regulatory landscape." Basel II Capital Manager's selling points are it's modeling and analysis capabilities. Comprehensive and risk sensitive approaches can then be drawn up for managing regulatory and economic capital. Basel II is expected to be the "next big thing" in terms of IT having to deal with financial regulation.
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