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
Additional information about
SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
Follow SS&C on Twitter, LinkedIn and Facebook.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/ssc-signs-multiple-clients-to-its-frtb-solution-301303966.html
SOURCE SS&C