Aktia selected BancWare because it required a solution that would effectively enable it to manage the interest rate risk exposure on its balance sheet. In selecting BancWare, Aktia sought to improve its ability to accurately hedge against loss of net interest income due to interest rate exposure. The bank recognized that BancWare could help it better manage interest rate risk using the advanced stochastics in BancWare's OAV module (Options Adjusted Value at
Jukka Sarkanen, chief financial officer at Aktia, said, "BancWare will help us hedge against risk and meet the IAS32 and IAS39 requirements, as well as help to reduce volatility in earnings. BancWare has a prestigious group of clients in Scandinavia, and the advantage of local support combined with SunGard's global experience was a key factor in our decision."
Terence Faherty, president, BancWare, SunGard Trading and Risk Systems, said, "We are delighted to be working with Aktia to help it manage interest rate risk. This deal represents BancWare's growing presence in this region, where more than 60 financial services companies currently rely on SunGard solutions."