BancWare has been installed in three of ING Directâs six countries of operation and has been customized to meet the specific requirements of the local operating units. The multiple-site implementations have been achieved in a rapid time frame, with the solution fully functional in Toronto, Delaware and Sydney and progress being made in Madrid. SunGardâs extensive support network provides ING Direct local service on a global scale.
Dennis Worst, risk manager at ING Direct, said, "We are delighted with the advanced capabilities of BancWare, and its flexibility and scalability. We are working with the BancWare team to steadily enhance and tailor the solution to our requirements. We look forward to growing our relationship with SunGard."
ING Direct has chosen BancWare for asset asset/liability management, data management, advanced behavioral analysis, and integration of key elements of the planning and forecasting process. BancWareâs deposit modeling capabilities will be used across ING Direct units.
Specific country sites use BancWareâs integrated third party interfaces for prepayment and cash flows, as well as the advanced analytics of Option Adjusted Value-at-Risk (OAV@R) which evaluates expected return, risk and market value of the entire balance sheet, individual portfolios, or specific positions.
Terence Faherty, president of SunGardâs BancWare operating unit, added, "The flexibility and scalability of BancWare enables it to robustly support the global asset/liability management activities of an Internet bank. Innovation continues to be one of SunGardâs key areas of focus, and our relationship with ING Direct further strengthens this commitment."