Westpac Selects SunGard's Credient for Global Risk Management

AUSTRALIA, August 24, 2004-- SunGard Asia Pacific, an operating group of SunGard (NYSE:SDS), today announced that Westpac Banking Corporation, a leading financial services institution operating across Asia Pacific, the UK and USA, has selected Credient to manage its global credit limits.

Credient is part of SunGard Adaptiv, a total solution for straight-through processing and integrated trading and risk management. It will provide Westpac with a central store of credit information and allow risk personnel to monitor global exposures against limits, and manage exceptions on a real-time basis. Through automation of processes, Credient will help Westpac to better manage and control credit exposure, according to bank policies, whilst helping to reduce operating costs and minimize operational risk.

Credient will provide Westpac with an integrated framework to monitor global limits in real-time and respond to all trade-related activity. Credient will provide Westpac’s traders with pre-deal limit checking and ‘what if’ analysis. Credit line availability levels, and any applicable warnings, will be sent back to the trader in real-time. Importantly, credit officers will be instantly notified of any credit policy violations.

Westpac wanted to partner with a vendor that could provide an ongoing strategic benefit, understood its business and offered a solution to manage immediate requirements whilst providing a platform for future requirements.

John Wilson, president, SunGard Asia Pacific, said, "SunGard is a global leader with strong local knowledge and expertise, and a support network across the region. We offer Westpac a strong, enduring relationship and a solution that is proven".

"Banks are becoming increasingly focused on the management of risk and, in particular, credit risk. Credient provides the workflow environment that banks need to gather and aggregate data with improved efficiency and consistency. In the face of regulatory and economic pressures, banks are also seeking to more efficiently manage and allocate capital. Credient provides the tools to achieve this and remain competitive on a global scale. The strength of SunGard also means that banks can work with a global leader, with extensive experience and range of solutions," concluded Mr. Wilson.

Westpac is also currently using SunGard’s MINT solution for SWIFTNet connectivity, and SunGard’s Tiger solution for trade finance.

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