Paris-based financial group Societe Generale has chosen SunGard’s ‘BancWare Focus ALM’ for balance sheet management of several of its retail banking subsidiaries outside France. ‘BancWare Data Integration’ has also been selected for data cleansing and processing.
Societe Generale will implement the applications over a period of two years.
BancWare Focus ALM will provide static and dynamic modeling that will help the banks to more effectively manage interest rate, foreign exchange and liquidity risk.
Some of the banks will install the solution on-site, while others may use it remotely. On- and off-balance sheet products will be modeled in order to help the banks monitor the impact of market changes on their balance sheets, and make more informed business decisions.
BancWare Data Integration will cleanse, sort and feed data into the ALM software so that risk data can be accessed bank-wide, across a single data platform. SunGard says full integration with BancWare Focus ALM for funds transfer pricing will also help to provide more accurate transfer pricing on financial instruments, facilitating the evaluation of products, customers, and business units for more proactive decision making.
Muriel Mace, ALM project manager for Societe Generale, said, flexibility is key to this project. We were specifically looking for a solution suite that could deal effectively with different languages, character sets and regulations. Equally important was the need for the applications to be user-friendly, and able to be installed in different technological environments.
Societe Generale’s Czech subsidiary, Komercni Banka, has been using BancWare for asset/liability management (ALM) since 2001. Societe Generale also uses a suite of SunGard solutions including ‘Adaptiv’ for credit risk management, ‘Decalog’ and ‘GP3’ for asset management and straight-through processing, and ‘GMI’ for back-office clearing and accounting.