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SNS Bank, the fourth largest Dutch bank, will integrate SunGard’s market and credit risk functionality into its existing SunGard treasury platform, with the aim of creating a centralized operational framework for credit and market risk management, officials say.
“An integral part of its strategy to modernize risk capabilities in these areas, this will help SNS better adopt market standards, particularly around the principles imposed by Basel and regulatory bodies,” according to a SunGard statement.
As part of the implementation SNS’ Financial Markets division will use SunGard’s hosted and managed services to “help ensure it retains focus on core competencies,” according to the statement.
“As part of our strategy to transform SNS’s risk operations and improve regulatory compliance, upgrading our technology is vital,” says Bart Toering, a managing director at SNS Bank in a statement. “We are taking a proactive approach to modernizing our infrastructure across treasury and trading, so we can not only fully meet regulatory requirements, but drive business advantage from the benefits of new technology. Having a complete view of risk will help ensure better management, mitigation and overall business performance.”
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- compliance,
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