SunGardâs comprehensive suite of asset and liability (ALM) and Basel II products will assist in strengthening iBankâs risk and performance management processes and help to place it at the forefront of risk management in the Philippines. This will be the first implementation of SunGardâs B2CM solution in the Philippines.
iBank will use B2CM for credit risk portfolio management and to help achieve Basel II compliance. Key to iBankâs selection of B2CM was its capability of providing risk capital calculations across retail and wholesale portfolios with the transparency and auditability required by Basel II. The Basel II Data Manager (B2DM) also has the ability to facilitate data reconciliation with the general ledger, which helps promote confidence in the integrity of the underlying data.
iBank President and Chief Executive Officer, Ramon Y Sy, said, "While Basel II compliance is an important issue for financial institutions, our decision to purchase the entire suite of SunGard risk solutions goes beyond the mere need to comply. We are looking at these risk and performance management solutions to help us achieve a leading edge and competitive advantage in Philippine banking."
Antonio C. Moncupa Jr., iBankâs Chief Finance Officer, said, "We went with an established name and leading provider of services to the financial industry. This project is very important to us and we believe that we can benefit from SunGardâs expertise in the areas of risk and performance management."
John Wilson, President of SunGard Asia Pacific, said, "We are very pleased to be entering into this partnership with iBank, one of the Philippinesâ most progressive and innovative financial institutions. iBank has recognised the value of leveraging the tools to achieve compliance into best practice risk management processes. We are confident that the SunGard team and iBank team will work well together to deliver a successful project for the Bank. SunGard is committed to the Asia Pacific region, and specifically to the Philippines, and we now count five of the Philippinesâ top six banks as customers."