Deutsche Postbank AG, a leading German financial services provider, has picked SunGard’s Adaptiv Risk Cube for market risk analysis, SunGard said Wednesday.
The move will also improve Postbank’ability to access, understand and analyze large volumes of data.
“In the current volatile environment it’s extremely important to have fast, reliable risk analysis that provides transparency across the enterprise,” said. Klaus Leusmann, head of risk control at Deutsche Postbank. “It’s also important to be able to drill down into specific activities and generate ad-hoc analysis quickly when needed. Adaptiv Risk Cube is a crucial component to providing a clear explanation of our P/L and Monte Carlo VaR analysis. It’s a major contributor to our internal model approval process, which helps us to benefit from substantial regulatory capital savings.”
In addition to providing banking services, Postbank performs back office services for other financial services providers.
Postbank is currently using SunGard’s Adaptiv to help manage its intra-day and end-of-day market risk reporting.
“Adaptiv Risk Cube will provide Postbank with immediate access to risk data, from an enterprise level down to individual trade and Monte Carlo scenario level,” SunGard said in a release.
“The addition of SunGard’s Risk Cube risk analysis solution will help Postbank to view a complete picture of market risk data across the enterprise, with the ability to question and gain greater detail on sources of risk,” SunGard said. The choice “will also help Postbank to make immediate intra-day amendments and data corrections to market risk reports generated at all levels.”
“SunGard’s Adaptiv Risk Cube is a versatile solution that scales to meet the growing needs of an institution as volumes and analysis requirements increase,” said Mat Newman, head of product management for SunGard’s Adaptiv business unit, in a statement. “It allows an in-depth understanding of risk through analysis down to the lowest level of detail, helping uncover the true sources of risk.” SunGard’s Adaptiv provides enterprise-wide credit and market risk management and operations solutions for financial services institutions. Customers include banks, hedge funds, asset managers and insurance companies.
Wayne, PA-based SunGard Data Systems is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in over 70 countries.
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