Yorkshire Building Society Standardizes on Ambit Asset Liability Management Solution

London (Vocus/PRWEB) January 25, 2011

Yorkshire Building Society (YBS), the second largest building society in the United Kingdom, has standardized its ALM practice across the organization with SunGard’s Ambit Asset Liability Management (ALM) solution, an integrated risk management solution that facilitates complete multi-dimensional analysis of the balance sheet. The solution’s implementation has been expanded across the organization to include its recently acquired company, Chelsea Building Society (CBS). This will help YBS consolidate the commercial and residential businesses of the two firms onto a single balance sheet and gain a better understanding of interest rate risk for the group.

With Ambit ALM, YBS intends to drive efficiencies in its mortgage management process as well as in pricing for new and existing clients. Ambit ALM will help to create a risk measurement and pricing system that is consistent with market-based pricing mechanisms. Ambit ALM will also help YBS model customer behavior, business strategy, interest rate scenarios and a wide range of other economic variables quickly, easily and accurately. Accurate and detailed data and analysis will help managers to better understand the impact of market changes on the balance sheet, and therefore make more informed business decisions for the new consolidated firm.

Mark Smith, head of asset liability management at YBS, said, “Clear understanding and effective management of interest rate risk requires accurate and detailed data and analysis. We have been using SunGard’s Ambit Asset Liability Management solution since 2000 and were eager to deploy the solution across our recently acquired firm, CBS. This will help to measure and manage interest rate risk at the group level and provide the necessary inputs for new business decision making.”

Andreas Hug, managing director of SunGard’s Ambit Risk & Performance Management, commented, “The sub-prime crisis and global credit crunch are forcing firms to increase their emphasis on strategic risk management. Firms like Yorkshire Building Society can rely on SunGard’s Ambit Asset Liability Management solution to help measure and manage risk, forecast balance sheet performance, meet regulatory requirements and make critical business decisions.”

About Yorkshire Building Society
Yorkshire Building Society is one of the largest building societies in the UK. It has 2.8 million members and assets of over £30 billion. It has 178 branches backed up by a network of agencies spanning the country. It has one of the lowest management expense ratios in the building society sector. It's also central to the Society's policy of growing the business as efficiently as possible in order to generate enhanced benefits for members.

About Ambit
SunGard’s Ambit is a banking solution suite for retail, commercial and private banks. It provides banking professionals with solutions that support front-, middle- and back-office operations, as well as solutions for financial management, risk and compliance. Ambit helps banks retain and acquire customers, achieve dynamic staff efficiency and measure and allocate their capital. For more information, visit http://www.sungard.com/ambit.

About SunGard
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, please visit http://www.sungard.com.

Trademark Information: SunGard, the SunGard logo and Ambit 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.

###

Read the full story at http://www.prweb.com/releases/2011/1/prweb8089006.htm