"Weâve made the strategic decision that Algo Collateral will provide the framework for our planned increase in scope of our collateral operation," said Deon Kruger, head of Global Collateral Management and Operations at Standard Bank. "Weâre very pleased we can begin to enjoy this competitive advantage on schedule." Standard Bank Group Limited selected Algo Collateral in the fall of 2002 to centralize and manage risk related to all of its global collateral business. The Group plans to roll out the solution to its London operations by the third quarter of this year, and Hong Kong and Brazil at later dates.
Algo Collateral has been repeatedly selected as the enterprise-wide collateral risk management solution for the financial services industry. "With three go-live implementations in quick succession across the globe at key client sites such as Standard Bank, Algo Collateral has proven itself to be the leading collateral risk management solution available on the market today," said Joe Balkovec, Director for Algo Collateral. "Our clients are embracing Algo Collateralâs ability to reduce operational and credit risk, while providing end-to-end collateral process support."