SINGAPOREâOctober 17, 2005âIPS-Sendero, a unit of Fiserv, Inc. (Nasdaq: FISV) and a provider of technology solutions and education for enterprise risk, customer relationship and corporate performance management, announced today that HSBC has completed the purchase and successful implementation of IPS-Sendero A/L for its Australia Banking Group. IPS-Sendero A/L is a risk management solution offered by IPS-Sendero for financial institutions worldwide.
The implementation of IPS-Sendero A/L was completed in less than three months, which is considered to be a rapid implementation by industry standards. IPS-Sendero A/L provides HSBC with the tools required to measure and manage their earnings at risk. IPS-Senderoâs A/L systems allow customers to actively measure, monitor and manage risks, design and test alternative strategies in a "what-if" environment, improve margins, develop corporate budgets and forecasts and support regulatory compliance through interest rate risk, capital adequacy and fair value accounting.
Clement Ooi, vice president and director, ASPAC, IPS-Sendero said, "I am very pleased to be expanding our relationship with HSBC in the Asia-Pacific region to Australia. We highly value our partnership and look forward to working with HSBC Australia in the future."
IPS-Sendero is a global organization providing risk and value management solutions to deliver fully integrated, enterprise risk management and risk adjusted performance management. Our enterprise risk management solutions enable financial institutions to comply with the pillars of Basel II, simulate interest rate risk on the banking book and fully test hedge effectiveness, using Monte Carlo techniques, for IAS 39 compliance. More than 3,400 financial organizations in 56 countries have licensed 7,800 IPS-Sendero products and services to help manage their risk, measure and manage profitability, develop budgets and forecasts and produce information needed for sound decision-making. IPS-Senderoâs global headquarters are in Atlanta, USA with its EMEA headquarters in London and ASPAC headquarters in Singapore. IPS-Sendero is a business unit of Fiserv, Inc. (Nasdaq: FISV).
Fiserv, Inc. (Nasdaq: FISV) provides information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004.