Who’s bought what? WHO? Summit Bank WHAT? iMAL
Pakistan’s Summit Bank is to implement Path Solutions’ iMAL core banking system in its head office and 192 branches across the country. It says that it went for the solu- tion over the likes of T24 from Temenos, AutoBANKER from Autosoft Dynamics, and Flexcube from Oracle FSS. iMAL will replace the bank’s legacy system hPLUS from BiLOGiC Systems. “As one of the most complex core banking transformations in Pakistan,
including the challenges of parallel con- ventional and Islamic banking operations, the selection process was extensive,” says Syed Muhammad Anwar Lutfullah, Group Head Information Technology & Payment System at Summit Bank. “It was impor- tant for us to select a reliable technolo- gy partner offering a robust core banking system that could provide a feature-rich Islamic banking experience while facili- tating the conventional banking business
WHO? Commerzbank WHAT? OpenGamma analytics service
at Commerzbank Corporates & Markets, the investment banking division of Com- merzbank, says: “This agreement allows us to focus on our OTC Clearing strengths, assured that vital margin analysis coverage we provide for clients remains in step with market developments - all at a crucial stage in the onset of central clearing. The trend towards pre-trade margin comparison re- quests is marked and the partnership with OpenGamma provides our clients with access to a cost-effective market-leading analytics service.”
“We are seeing increasing demand in the run-up to Category 2 clearing, as buyside firms need a cost-effective method of analysing the impact of initial and variation margin,” says Peter Rippon, COO of OpenGamma. “From position data supplied by one firm, we ran OTC margin calculations across CCPs (LCH, CME, Eurex) for all the funds impacted by the Category 2 mandate. The initial margin requirements varied by up to 30%, implying £100 million difference in the required initial margin.” Scott Thompson
WHO? Bank Pocztowy WHAT? OneSumX
Commerzbank has become the first sell-side institution to sign up for OpenGamma’s new margining service. This comes at a time when Category 2 market participants are just two months away from joining Category 1 institutions in the obligation to clear OTC derivatives under EMIR. Nick Chaudhry, Head of OTC Clearing
28 © IBS Intelligence 2016
Bank Pocztowy has signed up for Wolters Kluwer’s risk management software solution. The Polish retail bank will use OneSumX in the following areas – Asset and Liability Manage- ment (ALM), market risk, liquidity risk, and credit risk, for the Basel III capital charges calculation. Wolters Kluwer will also provide Funds Transfer Pricing (FTP) analysis and stress testing. “We required a provider who
inherently understands the myriad of
risk management obligations today’s banks face,” comments Magdalena Na- wara, Director of Bank Pocztowy’s Risk Management Division. “We are taking a fully automated approach with daily risk management and profitability cal- culations and monthly analysis for Basel III, using the Wolters Kluwer solution to ensure we have access to leading risk management capabilities.”
Scott Thompson
during the transition period. Summit Bank is committed to using innovative technolo- gy to achieve faster time to market for new banking products, create a more efficient branch network, offer superior customer experience and streamline its operations. Working with Path Solutions will help the bank to achieve these goals.”
Scott Thompson
www.ibsintelligence.com
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