SunGard today announced that it has been awarded “Best Risk Management Provider” in Waters 2007 Rankings for its Adaptiv and BancWare risk management solutions. Adaptiv provides enterprise-wide credit and market risk management and operations solutions. BancWare provides modular software and consulting solutions for asset/liability management, budgeting and planning, profitability, economic capital, operational risk and Basel II compliance.
SunGard was recognized for its holistic approach to managing risk and completeness of risk management offerings for financial services firms. According to the rankings, published in the July issue of Waters magazine, SunGard stands apart from other vendors because its “solutions address internal and industry-wide risk management challenges, such as the breaking down of silos between risk management functions at financial institutions, and meeting regulatory requirements.”
The award confirms what leading financial institutions around the globe have already indicated by choosing these comprehensive risk solutions from SunGard. First Gulf Bank, of the United Arab Emirates, recently adopted the BancWare and Adaptiv solutions for capital calculations and regulatory compliance. “Our business growth, increased exposure and increased regulatory requirements have created the need for a risk management solution,” said Arif Shaikh, chief risk officer for First Gulf Bank. “By providing an integrated solution for Basel II and risk management, SunGard will help us expand our on- and off- balance sheet risk management capability and help us to produce regulatory compliant reporting that meets the requirements of both the Basel accord and the Central Bank.”
The Waters Rankings are the annual readers’ choice awards of Waters magazine, which recognize the combined leadership of technological capabilities and human expertise in each category. Qualified voters hail from buy- and sell-side firms as well as exchanges and brokerages. Nearly 600 voters from around the world voted in the rankings.