Mexican Banks Choose SunGard for Operational Risk Management
Several major Mexican banks have selected SunGard's Ambit Risk Performance to help them identify, quantify and manage operational risk and facilitate compliance with Basel II regulatory requirements. Banks that have selected Ambit include Invex Servicios Corporativos, S.A. DE C.V. Invex Grupo Financiero; Banco Regional de Monterrey, S.A. Institucin de Banca Mltiple, Banregio Grupo Financiero; Banco Monex, S.A. Institucin de Banca Mltiple, Monex Grupo Financiero; Banco Autofin Mexico, S.A. Institucin de Banca Mltiple and Banco ve por Mas, S.A.
According to a release by the software and IT services vendor, there is a growing awareness in the Mexican financial services industry that changes in regulation have increased the need for sophisticated operational risk tools and policies. The Wayne, Pa.-based provider's Ambit Risk Performance is designed to provide enterprise-wide loss event tracking and management reporting tools to help banks improve operational efficiency and control their risk exposure. SunGard says that the banking solution suite for retail, commercial and private banks offers tools that support front-, middle- and back-office operations, as well as financial management, risk and compliance. The vendor suggests that by utilizing Ambit will enable banks to improve customer service management, streamline business processes, comply with regulations and capture growth opportunities.
SunGard cites a statement by Ana Cecilia Reyes Esparza, president, OpRisk Committee, Mexican Banks Association, and head of risk management, Grupo Financiero Ve por Mas: "By adopting better operational risk principles and practices, we can manage our economic capital more efficiently. . . . We chose [SunGard's Ambit Risk Performance solution] because it's a proven, mature solution that we're confident will give us a better understanding of where our risk resides."
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