SunGard has unveiled a new version of Ambit Core Banking, its universal core banking system, to help banks stabilize earnings and respond to margin pressure. Ambit Core Banking now includes balance sheet and risk management tools embedded into the core banking system in addition to retail deposits and lending, commercial banking, trade finance, and treasury management.
Providing balance sheet and risk management tools as an embedded component of a core banking system will help banks have a more accurate view of risk across the enterprise. Ambit Core Banking uses a single data model to help improve data consistency, accuracy and transparency of balance sheet information as an integrated component of core banking infrastructure.
In addition to providing accurate balance sheet and risk management data, Ambit Core Banking also offers workflow tools to help banks embed risk management processes into decision making across the organization. It helps banks interpret and use balance sheet risk information for improved strategic decision making, such as discontinuing unprofitable channels, and adjusting risk appetite or capital on reserve.
Michael Araneta, research director at IDC Financial Insights said “Multiple post-crisis challenges have exposed the flaws in legacy architectures and driven a renewed focus on systems modernization. But today the biggest drivers for core systems transformation are underpinned by the need for more rigorous risk management practices, stringent regulatory compliance capabilities and the health and stability of the balance sheet – a bank’s single most important asset.”
Ambit Core Banking is based on the Banking Industry Architecture Network (BIAN) standards and built using a componentized service-orientated architecture, allowing banks to implement only the functionality they require in a manageable and phased way. This approach also enhances a bank’s organizational agility as it helps the bank to adapt more quickly to market changes.
Hans Tesselaar, executive director of BIAN said, "Banks are under pressure to deliver innovative products that enhance the customer experience, while also increasing flexibility and reducing costs. Adopting a service-oriented architecture will help banks migrate to a more modern infrastructure in a measured and managed way.”
David Hamilton, president of SunGard’s banking business, said, “Banks are reevaluating, and in some cases rebuilding, their operational models in order to help them restore profitability. The role of a core banking system is no longer simply that of a transaction processing engine, but is the primary provider of data into balance sheet management systems. The ability for banks to embed balance sheet management strategies across the organization will become essential to the ongoing stability of the bank.”