The Banker has initiated this award to recognize those service providers that 'provide the tools and ideas required to help the banks meet their targets for cost-cutting and improving efficiency'. Panorama, a real-time, modular solution for cross-asset, straight-through trading, portfolio analysis, market and credit risk management and processing, has been given the award for its contract with the Confederacion EspaÃ±ola de Cajas de Ahorros (CECA), the Spanish association of savings banks.
In June, CECA selected Panorama as the cornerstone of its global risk infrastructure. Panorama will provide CECA's 41 member banks with integrated, enterprise-wide market and credit risk management. CECA selected Panorama because it fully satisfies the functional needs specific to its domestic dealings and because its robust architecture is able to support remote delivery to CECA's member banks.
Gavin Lavelle, president of the Panorama operating unit, said, "It is our honor to be recognized as the leading provider of client services and innovation for risk management by such a prestigious publication as The Banker. Our ability to meet the unique functional needs of CECA's member banks and the stringent technical requirements to provide integrated risk management to 41 savings institutions illustrates two of Panorama's most outstanding features-- the solution's breadth and depth of functionality, and the flexibility and scalability required for this unusual installation. The uncertain climate of our current economy highlights the importance of a technologically robust, integrated risk management solution and the need for a trusted, financially strong vendor partner."