London, June 8, 2005 - SunGard (NYSE:SDS) today announced that Standard Bank Group has selected SunGard’s Basel II Capital Manager for Basel II compliance and capital management. A customer of SunGard’s since 1996, Standard Bank will use the Basel II Capital Manager for its retail and wholesale portfolios across 23 locations. Standard Bank will also use the Basel II Data Manager, a component of SunGard’s Basel II solution, to seamlessly aggregate data across the bank’s technology platforms and help streamline its capital management process.
Standard Bank selected the SunGard Basel II solution because of its ability to provide risk capital calculations across its retail and wholesale portfolios, with the transparency and auditability that Basel II demands. The bank also liked the Data Manager’s ability to facilitate data reconciliation with the general ledger and to help ensure confidence in the quality of the underlying data.
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."