risk capabilities to broader applications, as Sungard itself has done with an offering such as Front Arena. While some of the banks that are listed as Adaptiv users took Sungard systems in their previous form, such as CITIC Industrial Bank in China which signed for Panorama in 2001 or ING with Credient, Sungard’s claim is that more or less all users are now on the newer Adaptiv versions.


User experiences


In 2007, Daewoo Securities became the first Korean securities company to take Sungard’s Adaptiv 360, although there were already a number of Korean banks as users. The securities players in the country were evolving and were having to comply with stricter regulations, said Sungard’s Asia Pacific president, John Wilson. The solution would help Daewoo Securities to provide risk management for its equity derivatives business. In the same year, Canada-based ATB Financial took the solution on an enterprise-wide level. This was to provide the 153-branch bank, an existing Sungard user, with a framework to capture, process and manage its derivatives portfolios. Juerg Hunziker, president of Sungard’s Adaptiv business, said ATB was looking to consolidate its technology environment and streamline its business processes as well as implement a risk reporting solution to monitor its market and credit exposure. ATB Financial served over 600,000 customers at this time.


Meanwhile, South Africa-based Adaptiv client, Standard


Bank Group, added the Adaptiv Analytics solution to cover simulation-based methodologies for its derivatives portfolios. The product was taken to integrate with the Adaptiv Credit Risk solution which was already used by Standard Bank for enterprise-wide counterparty credit risk management. Standard Bank had taken Adaptiv Credit Risk on an ASP basis in early 2005. The system was hosted at Sungard’s Johannesburg data centre.


That original contract was the product of a year-long in-


house search, divided between the two ‘largely independent’ wholesale corporate and investment banking divisions in


User list Adaptiv


Example customers


American Express Bank (UK) ATB Financial (Canada) Bank of Montreal (Canada) CITIC Industrial Bank (China) Daewoo Securities (South Korea) Deutsche Postbank (Germany) Faisal Islamic Bank (Egypt) HDFC Bank (India)


ING (Netherlands) Kookmin Bank (South Korea) National Australia Bank (Australia) National Bank (US)


National Bank of Canada (Canada) National Bank of Greece (Greece) Nordea (Nordic region) Saxo Bank (Denmark) Standard Bank (South Africa) WestLB (Germany)


Risk Management Systems & Suppliers Report | www.ibsintelligence.com 139


Of course, all of Sungard’s treasury and capital markets have risk management support (Quantum gained Emir support in a release in early 2014, for instance) and there is a host of other applications, sometimes country-specific, that address different areas of risk and compliance, across both sell- side and buy-side (Hedge360 for hedge funds, for instance).


Johannesburg and London. There was ‘significant interaction with shortlisted vendors’, said John Stathoulis, the bank’s director for risk management in Johannesburg. He was not willing to reveal the unsuccessful suppliers. Standard Bank adopted the system as part of its plans to


standardise and consolidate platforms across the two centres. As a major external driver for change, incumbent supplier, LogicaCMG, had given Standard Bank notice it was no longer prepared to support its product. In addition, said Stathoulis: ‘We needed to get onto a platform that was capable of growing with us in the new regulatory environment.’ The roll-out was in three phases, starting with vanilla


trading products being moved onto the ASP service from source systems in London and Johannesburg. The next stage was focused on the banking book products. Finally, all exotics were meant to be shifted to the new platform. There are some customers with a mix of Adaptiv and Ambit


Risk. National Bank of Greece, which already used Adaptiv for market risk, took Bancware (so one component of what became Ambit Risk) in 2007 for regulatory reporting and Basel ll Pillar 2 and 3 support. The bank also deployed the Bancware Data Integration application, to aggregate data across its technology platforms and to help streamline its


capital


management process. A broad taker of Sungard’s risk solutions in mid-2014


was Faisal Islamic Bank in Egypt, which set about building an operational framework for managing risk exposure, reporting and Basel compliance. The solutions were taken to replace largely manual processes and in part was looking for ‘best practice’ by taking out-of-the-box risk reporting and monitoring.


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