Bangkok--13 Mar--Pr Plus Two
SunGard ( http://www.sungard.com ) today announced that Siam Commercial Bank Public Company Limited (SCB), Thailand’s first commercial bank and currently a leader in the Thai banking industry, has selected SunGard’s BancWare Capital Manager ( http://www.sungard.com/basel II) for credit risk management and Basel II compliance. SunGard’s BancWare will be implemented at SCB’s head office in Bangkok and will help the bank achieve timely Basel II compliance, upgrade its risk assessment capabilities and better manage its credit risk and underlying exposure.
This agreement makes SCB one of the pioneering banks in Thailand as it takes steps towards an early implementation of Basel II. The signing of the agreement is the latest in a series of successfully completed modernisation initiatives launched by the bank over the past several years.
SCB will use SunGard’s BancWare within its wholesale operations for credit portfolio management and Basel II regulatory capital calculations. In order to prepare itself for Basel II, SCB was seeking a credit risk management solution that had been tried, tested and was rich in functionality. Essential selection criteria included, immediate credit portfolio analysis capabilities, exposure aggregation and customer categorization, limit and exposure monitoring, stress and scenario testing, projections, validation, Basel II requirements, reporting and inquiry capabilities.
Mr. Yokporn Tantisawetrat, SCB executive vice president and chief risk officer, said, “As a leading commercial bank in Thailand, SCB sets aggressive business goals. We have made it clear that we aim to be the premier universal bank in Thailand in the very near future. To this end, we are committed to constantly upgrading our technological infrastructure and enhancing our business capabilities.”
“Against the backdrop of an increasingly competitive business environment and new international requirements, we foresaw the need to enhance the system infrastructure of our loan origination and credit risk management operations. We knew that we needed to reconfigure our processes to meet our business requirements without high levels of customisation. After examining numerous local and international solutions, seeking the appropriate levels of functionality, expertise and support, our choice was SunGard”, Mr. Yokporn explained.
“The immediate benefits that SCB expects to see from the implementation of SunGard’s BancWare are readiness for all three pillars of the Basel II Capital Accord and improved credit portfolio management. BancWare’s credit risk portfolio management capabilities, with built-in Basel II templates, will help provide the bank with a jumpstart to the analytical capabilities required for portfolio management and Basel II compliance”, Mr. Yokporn concluded.
John Wilson, president of SunGard’s Asia Pacific business unit, said, “SunGard is pleased to be entering into this partnership with Siam Commercial Bank. For some time now SunGard has focused on building its levels of expertise and support capabilities in the Basel II space. SCB’s move towards Basel II preparedness and willingness to leverage a compliance requirement into a strategic advantage is indicative of its progressive attitude and desire to be at the forefront of the Thai banking industry. SunGard is dedicated to understanding the needs of our customers and assisting them in the accomplishment of their goals as we develop new relationships within Thailand and across the Asia-Pacific region.”
About Siam Commercial Bank Public Company Limited (SCB)
Established in January 1906, Siam Commercial Bank is the first Thai-owned commercial bank in Thailand. Currently one of the leading commercial banks in Southeast Asia, SCB has been widely recognized for its vision, professional management style and business performance. In 2005, BusinessWeek magazine identified SCB as one of the top 150 Leading Asian Companies, the only commercial bank in Southeast Asia to make the list. Also in 2005, SCB has been voted the Best Bank in Thailand by international publications such as EuroMoney, The Banker and FinanceAsia. It was also selected as the Best Retail Bank in Thailand in 2005 by the Asian Banker magazine.
Siam Commercial Bank currently has close to 700 branch offices across Thailand, the highest in the industry, and manages approximately US$ 1.6 billion worth of loans in 2005. For more information, visit www.scb.co.th .
About SunGard Asia Pacific
SunGard Asia Pacific combines the global presence and strength of SunGard with local knowledge and expertise. Dedicated staff members in 12 offices in 10 countries across the region are committed to providing exceptional service, leading-edge technology and integrated solutions to the Asia Pacific financial services community. Serving over 400 customers in Asia Pacific, its key principles rest on quality service and support.
About SunGard
With annual revenue of US$4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world’s 50 largest financial services companies. Visit SunGard at www.sungard.com .
Trademark Information: SunGard, the SunGard logo and BancWare are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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