Webster decided to extend its use of BancWare to help it apply risk-based decision-making at all levels of the institution. The planned implementation encompasses financial reporting, forecasting, budgeting, economic capital and risk ratings, RAROC pricing, product and customer profitability, and cost allocation. These components will work together with the existing BancWare asset/liability management and data integration tools to help Webster more accurately measure line-of-business performance, pinpoint capital requirements, and optimize origination and distribution processes.
âIn partnering with SunGard, Webster knows it is working with an experienced leader in risk and performance management,â explained Michelle Morgan, vice president of financial planning for Webster. âBecause BancWare solution components are already integrated, weâll be up and running in half the time. This is a great fit for our needs.â
Terence Faherty, president of SunGardâs BancWare business unit, said, âBy taking a holistic approach to risk management, Webster is initiating an industry-leading step that we believe will help define future best practices in balance sheet risk management. We are pleased to provide an integrated solution in BancWare that will help Webster achieve risk-based performance objectives.â