SunGard today announced that the National Bank of Greece (NBG) has chosen SunGard’s BancWare Capital Manager for Basel II regulatory and economical capital management and reporting, as well as to provide full Pillar 2 and 3 functionality. BancWare Capital Manager is a modeling and analysis solution that helps financial institutions meet compliance requirements and develop risk-sensitive approaches for managing economic capital. NBG will also use BancWare Data Integration to seamlessly aggregate data across the bank’s technology platforms and help streamline its capital management process.
NBG selected BancWare Capital Manager because of its proven ability to provide risk capital calculations. In addition, it chose BancWare Data Integration to help ensure data confidence, by way of a single data platform, which allows risk data to be accessed bank-wide in a secure environment. NBG already uses SunGard’s Adaptiv and Reech solutions for front- and back- office market risk management and processing.
Terence Faherty, president of SunGard’s BancWare business unit, said, “The Central Bank of Greece requires the leading banks in Greece to comply with Basel II’s Advanced Internal Ratings Based method for Pillar 1 minimum capital requirements, by the end of 2007. SunGard’s BancWare Capital Manager will help provide the technology functionality to help NBG meet this deadline. Local technology partner, PROFILE, will help with the implementation of BancWare at NBG.”