Malaysia’s AmBank Group Implements Fiserv Solution to Manage Asset Liability Risk
BROOKFIELD, Wis.--(BUSINESS WIRE)-- Fiserv (FISV) , Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that AmBank Group (The Group) has implemented a Fiserv solution to help manage its asset liability risk. Through Fiserv, The Group will be able to manage bank-wide liquidity analysis, asset/liability risk, interest and profit-rate analysis and banking book Value at Risk analysis essential components of effective corporate governance and enterprise risk management.
As one of Malaysias largest banking groups, The Group needed a solution that provided increased control and accuracy for its daily interest rate risk and liquidity risk management. Additionally, The Group required an integrated risk framework to perform valuation and sensitivity analysis and to support its regulatory compliance reporting related to liquidity.
The Group chose the Fiserv solution based on its ability to analyze risk across both retail and treasury products and because non-product information, such as contingencies and commitments, are able to be incorporated into its modeling capabilities. Equally important is the Fiserv teams understanding of the banking business products, commitment and local presence and support in the region. Fiserv stands out among its competitors as it has a proven track record of implementations in Malaysia as well as other countries across Asia.
With both active balance sheet risk management and compliance and regulatory reporting more important than ever before, we needed a solution that gave us a more detailed and scenario-based view of potential rate and liquidity risks, said Bob Moffat, Head of Capital and Balance Sheet Management at AmBank Group. The Group went through a rigorous analysis process to review the information required for the asset liability management solution and define the appropriate models to be adopted. We now have a holistic and highly proactive approach to managing The Groups balance sheet.
It is essential for banks worldwide to take a comprehensive integrated approach to risk management, incorporating robust liquidity management and balance sheet market risks management. Not only is this necessary for meeting regulatory requirements, but also for ensuring effective corporate governance, said Clement Ooi, managing director, Asia Pacific Operations, Risk and Compliance, Fiserv. With the continued growth and activity in the Asia-Pacific markets, Fiserv remains focused on providing fully integrated advanced risk solutions that answer the particular needs of dynamic organizations like AmBank Group.
A core competency of the company, Risk and Compliance solutions from Fiserv offer a unique breadth of solutions to help clients optimize usage and return on capital by making risk transparent and actionable within their organizations. Solution areas include Financial Crime Risk Management, Financial Risk Management, Financial Performance Management and Financial Control Solutions.
- AmBank Group - www.ambankgroup.com/
About AmBank Group
Established in August 1975, AmBank Group is one of the largest banking groups in Malaysia by market capitalization and comprises AMMB Holdings Berhad and its subsidiaries AmInvestment Bank Berhad, AmInvestment Group Berhad, AmBank (M) Berhad, AmIslamic Bank Berhad, AmG Insurance Berhad and AmLife Insurance Berhad.
The Group provides a wide range of conventional and Islamic banking and financial solutions, including investment banking, commercial banking, corporate and institutional banking, retail banking as well as underwriting of life and general insurance and takaful.
Adding greater value to this one-stop financial hub is the Groups strategic partnership with the Australia and New Zealand Banking Group (ANZ), one of Australias leading financial institutions, providing the synergy of a wide network, regional presence and international banking expertise.
Fiserv, Inc. is a leading global technology provider serving the financial services industry. Fiserv is driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For six of the past eight years, Fiserv ranked No. 1 on the FinTech 100, an annual international listing of the top technology providers to the financial services industry. For more information, visit www.fiserv.com.
Senior Public Relations Manager
Syed Anuar Syed Ali
Head, Group Corporate Affairs
+603 2036 1703
Source: Fiserv, Inc.Copyright Business Wire 2012