NEW YORK, April 24, 2003â SunGard Trading and Risk Systems, an operating group of SunGard (NYSE: SDS), today announced that ABN AMRO Bank N.V, headquartered in Amsterdam, The Netherlands, has selected Credient for trading portfolio credit risk management across its Wholesale Clients business. Credient will consolidate global information and provide tools for portfolio analysis and exposure modeling, as well as real-time, pre-deal limit checks and global limit management.
ABN AMRO will use Credient to monitor and control credit risk in real-time. Credient will aggregate data from ABN AMROâs trading systems, including other SunGard solutions such as Infinity and BRASS, and consolidate and calculate the full range of credit risk information including netted exposures and advanced portfolio analytics.
Jan Sijbrand, senior executive vice-president and global head of group risk management at ABN AMRO, said, "Credient's ability to provide consolidated data from across our trading operation in real-time will enhance pre-deal decision making and enable us to implement consistent credit policies across the organization. Credient will also help us to manage our portfolio risks effectively. Our existing relationship with SunGard has shown the reliability of its service and support and we look forward to our continued partnership."
SunGard will host Credient in SunGard Availability Servicesâ European data centers, providing a fully resilient business continuity service. It will deliver Credient via a Web browser to over 3,000 traders and middle office staff in over 65 locations in 45 countries.
Steve Husk, president of the Trading and Risk operating unit, said, "Within an application service provider framework, Credient helps banks automate and streamline their processes and reduce operating risks. Credientâs extensive data collection and consolidation capability, its exposure calculations for on- and off- balance sheet items, and its global, real-time risk architecture further enable banks to meet their complex risk management objectives. Its advanced portfolio analytics, speed, flexibility and global coverage are a lynchpin in helping banks meet the requirements of future regulations."