Societe Generale Selects Misys Almonde Solution for Asset Liability Management and Funds Transfer Pricing
By Prne, Gaea News NetworkSunday, March 29, 2009
LONDON - Misys plc (LSE: MSY.L), the global application software and
services company, today announces that the Retail Banking Division of Societe
Generale has selected Misys Almonde to reinforce its risk, margin simulation
and monitoring capability.
Societe Generale chose the Misys Almonde Asset Liability Management (ALM)
and Funds Transfer Pricing (FTP) solution to establish an integrated system
that is able to both run simulations and report on FTP, internal margin and
Risk Management.
The choice of Misys Almonde has been made after a highly
rigorous selection process reviewing all the major software vendors in the
ALM and FTP markets and included several weeks of functional testing on real
production volumes. Only the Misys Almonde solution passed all the tests
successfully both on functional and technical aspects.
Misys Almonde combined ALM and FTP simulation as well as risk
monitoring. It will provide the Societe Generale retail network with the
ability to weigh the various risks according to their costs thanks to the
additional use of the Misys ALM Portal.
“Our needs were to have a solution for managing state of the
art Balance Sheet simulation as well as Risk and Margin monitoring,” said
Antoine Alexis, Head of Profitability Analysis, Actuary and ALM at Societe
Generale. “When cost of funding becomes too expensive in financial markets,
it is essential for the Societe Generale Retail Banking Division to rely on a
solution that will help our network to optimise our Balance Sheet
management.”
“The Misys Almonde solution is the only offering in the market
that is able to cater for our existing processes for internal Risk Management
and FTP monitoring. Additionally, the structure of the Misys Almonde ALM
solution enables us to acquire and maintain control easily. We will be able
to significantly reduce the current level of manpower dedicated to
administration, which will allow us to focus on various simulations of our
risks and margins,” concludes Julien Delbet, Head of ALM, Retail Banking at
Societe Generale.
“We are delighted with this additional collaboration with
Societe Generale. The choice carried out by such a major player in the global
banking environment validates the functional richness of our ALM and FTP
solutions base on a robust, easy-to-implement and easy-to-use technical
platform,” comments Olivier Berthier, Managing Director of Misys France.
Data management in Misys Almonde and Misys ALM Portal -
including control / validation, enrichment, historical storage and
restitution of both imported data and results - is thorough and complete. The
solution also allows a wide and exhaustive range of financial modelling.
Furthermore, the capacity to separate the functional and technical areas of
operation, in order to resolve issues more easily, is one of the recognised
keys to the success of implementing the solution.
“The bank’s teams will be able to concentrate their efforts
during the project phase on core activity and not on the data-processing or
volume handling issues. This will allow rapid production of the required Risk
Management indicators essential for monitoring the retail network despite the
high volumes of several tens of millions of contracts,” confirms Olivier
Berthier.
About Misys plc
Misys plc (LSE: MSY.L), provides integrated, comprehensive solutions
that deliver significant results to organisations in the financial services
and healthcare industries. We maximise value for our customers by combining
our deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with
over 1,200 customers, including all of the world’s top 50 banks. In
healthcare, Misys plc owns a controlling stake in NASDAQ-listed
Allscripts-Misys Healthcare Solutions, Inc, a clear leader in the provision
of healthcare technology, serving more than 150,000 physicians, 700 hospitals
and nearly 7,000 post-acute and homecare organisations. Misys employs around
6,000 people who serve customers in more than 120 countries.
We aspire to be the world’s best application software and services
company, delivering results for the most important industries in the world.
Misys: experience, solutions, results
Contact us today, visit: www.misys.com
For further information please contact
Edward Taylor
Global Head of Public Relations
Misys Solutions for Banking
+44(0)20-3320-5530
edward.taylor@misys.com
Sebastian Mathews
Financial Dynamics
+44(0)207-269-7158
sebastian.mathews@fd.com
Source: Misys plc
For further information please contact: Edward Taylor, Global Head of Public Relations, Misys Solutions for Banking, +44(0)20-3320-5530, edward.taylor at misys.com; Sebastian Mathews, Financial Dynamics, +44(0)207-269-7158, sebastian.mathews at fd.com
Tags: France, London, United Kingdom