Lombard Risk wins financial technology contract with Dutch bank

23 December 2009

Software provider Lombard Risk has been awarded a contract to provide a risk management solution to Danish bank ABN AMRO.

The contract is to offer the bank Colline, a collateral management software product which runs through a web application without requiring desktop software.

Lombard Risk secured the deal for an undisclosed sum following a period of testing by the Dutch financial institution.

John Wisbey, chief executive at Lombard Risk, said that the company was delighted by winning the contract.

“Their decision to use our Colline product was made after a rigorous, competitive process and marks another occasion where we
replaced the historically dominant player in this market at a large bank.”

He added: “This follows on from a major contract announced in April 2009 with a top Tier 1 European bank, and other deals concluded during the year with good names such as National Bank of Greece, Loomis Sayles and Pacific Life."

Meanwhile, the company unveiled its financial results for the six months to the end of September.

The figures showed that sales increased by eight per cent to reach £4.32 million during the period, higher than the £4.01 million seen
in the same period the previous year.

Lombard Risk’s pre-tax losses also dropped from £0.83 million to £0.82 million.

By Jim Ottewill

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