BancWare will help ECU’s ALM team to identify, measure, monitor and control the credit union’s interest rate exposure more efficiently, helping ECU to more strategically manage its business. The solution will be deployed in a server-based environment, allowing multiple users to view and analyze results, helping ECU to make decisions collaboratively and in real-time. BancWare will also provide ECU with automated, expanded reporting capabilities that will help ECU save time and resources.
BancWare ALM will also help ECU to continue to expand its services. Many credit unions have traditionally outsourced their asset liability management, or used limited financial models that required extensive manual effort. ECU had managed its ALM process internally, but as the organization expanded its business, the complexity of its assets and liabilities increased. ECU recognized that it had outgrown its process for managing ALM, and selected BancWare to help provide a more robust solution for accurately reporting on balance sheet risk.
Tonja Fish, manager of risk management at ECU, said, "Our organization has come to rely on the ALM process to manage our business, and in order to continue to have a solid ALM process, we needed a solution that could grow with us. BancWare offers the key features and functions we were looking for. We are looking forward to having expanded capability not only to continue to grow and succeed in our market, but to take our organization to the next level of interest rate risk management and analysis."
Terence Faherty, president of SunGard’s BancWare business unit, said, "Over the past 20 years, BancWare has developed ALM and risk management solutions to help meet the evolving needs of financial institutions, both large and small. We recognize that the needs of credit unions are unique – and as credit unions grow, their needs change. We’re committed to helping credit unions achieve greater operational efficiency and improve decision-making by providing a more automated, complete and accurate picture of their balance sheet."
