SS&C Signs Multiple Clients to its FRTB Solution
SS&C Technologies Holdings (Nasdaq: SSNC) announced on June 2, 2021, that several financial institutions worldwide have begun implementing its Fundamental Review of the Trading Book (FRTB) solution in 2021. This solution addresses upcoming Basel Committee market risk capital requirements effective January 2023. Notable clients include Denmark's SDC and Slovenia's Nova Ljubljanska banka, both of whom emphasized the need for compliance and enhanced risk management capabilities. The FRTB solution offers high performance, scalability, and extensive model coverage, positioning SS&C as a key player in the financial services industry.
- Multiple financial institutions globally adopting SS&C's FRTB solution, indicating strong market demand.
- The FRTB solution offers comprehensive features such as high performance, scalability, and extensive model coverage.
- Key clients like SDC and Nova Ljubljanska banka enhance credibility and demonstrate effectiveness.
- None.
WINDSOR, Conn., June 2, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that financial institutions from multiple regulatory jurisdictions around the world are now implementing its Fundamental Review of the Trading Book (FRTB) solution in 2021. SS&C Algorithmics' solution is designed to address the Basel Committee on Banking Supervision's market risk-related capital requirements for the Standardized and Internal Models approaches, which go into effect in January 2023.
Banks are updating their risk management frameworks to meet the deadline. SS&C's FRTB solution provides FRTB-specific calculations and workflows, extensive model coverage, high performance and scalability, as well as extendibility through APIs. The SS&C Algorithmics Workspace Analyzer (AWA) works with the FRTB solution to provide aggregation, sandboxing and what-if capabilities.
Denmark's SDC provides an IT platform for 120 small and large banks across all the Nordic countries and was looking for a platform that would help its entire client base prepare for FRTB compliance. "Addressing FTRB-SA requirements is imperative for our bank customers. We need a technically efficient and scalable solution that ensures robust data segregation," said Lars Rasmussen, Director – Business Intelligence & Decision Support. "We selected the SS&C solution for FRTB to meet our requirements for industrial strength and scalable technology that provides value for our customers."
Nova Ljubljanska banka (NLB), the largest bank in Slovenia, adopted Algorithmics' FRTB solution to enhance risk management capabilities. "For FRTB-SA, we needed a software partner that would ensure compatibility and create efficiencies with the wider risk management frameworks," said Chief Data Officer Franc Bračun. "We selected SS&C with confidence that they provided a mature and flexible solution, already adopted by the marketplace to meet regulatory FRTB-SA requirements."
"Banks recognize the need to prepare for FRTB now to accommodate the fast-changing local requirements in risk management," said Mina Wallace, General Manager, SS&C Algorithmics. "We are pleased to offer a way to simplify the preparations. With a tried and tested solution in production at multiple clients around the world, a flexible modular approach, and a full suite of what-if and decision-support capabilities, banks can be sure that they are working with an experienced partner."
Learn more about SS&C Algorithmics' FRTB solution here.
About NLB Group
NLB Group is the leading banking and financial group with headquarters and an exclusive strategic interest in Southeast Europe, its home region.
In addition to NLB d.d., a main entity in Slovenia and a public company, NLB Group is comprised of nine subsidiary banks in SEE and several companies for ancillary services (asset management, real estate management etc.). The group is customer oriented, with a clearly defined business strategy. It focuses on being a regional specialist and is committed to justifying the trust of its shareholders. Learn more at http://www.nlbgroup.si
About SDC
SDC, based in Denmark, provides robust, resilient IT platform for 120 small and large banks across all the Nordic countries. For more than 50 years, SDC customers have cultivated a community based on a Nordic IT platform, creating economies of scale and true value for its customers. Learn more at https://www.sdc.dk/en
About SS&C Technologies
SS&C is a global provider of investment and financial services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services.
SOURCE: SS&C
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SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
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SOURCE SS&C
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