FIS sheds Ambit Private Banking core software business

UBS and StatPro agree acquisition deal

FIS has sold its Swiss core banking software business, Ambit Private Banking, which it inherited with the acquisition of Sungard, to New Access Banking Software.

Arab Bank Switzerland ditches FIS/Sungard core system for Avaloq BPO

Arab Bank (Switzerland) in tech revamp

Arab Bank (Switzerland), a private bank in Geneva, has signed a long-term deal with Avaloq for the vendor’s complete business process outsourcing (BPO) services.

FIS predicts 3-4% growth for 2016

Increase Sales Revenue

FIS, the financial services technology provider which acquired SunGard at the end of 2015, has predicted organic revenue growth of between 3% and 4% in 2016. It reports that 2015 revenue grew by 3% over 2014 to reach US$6.6 billion. “The resilience of our business model characterised by highly recurring revenues and operational efficiencies allowed us […]

BNY Mellon ‘back to normal’ today after SunGard system outage

BNY Mellon 450px-1_Wall_Street

BNY Mellon expects to have its SunGard InvestOne system back to normal today following testing over the weekend and the US Labor Day holiday and have caught up on the generation of net asset values for clients.

The new face of risk management

Interview Sven

Regulations aimed at transparency across financial markets may be making things simpler for the regulators, but they are making life more complex for banks, according to Sven Ludwig, senior vice president, risk management and analytics EMEA, at SunGard.

Ageing reconciliation systems cost firms dear

Two-thirds of top-tier financial institutions have established reconciliation centres of excellence following a recent wave of consolidation of the reconciliation function – but more than half of firms say their reconciliation technology platform was at least five years old, and a quarter of respondents use platforms more than nine years old.

The treasurer: creating price tension on the derivatives front

David Renz is director, advisory risk, SunGard Ambit Treasury Management

A banking book requires a number of careful deliberations on the use of derivatives. In particular, the introduction of EMIR, Dodd-Frank and their brethren across the world has a number of important consequences for this market.

SNS Bank revamps treasury and risk as Basel reforms tighten grip


Dutch state-owned bank SNS is to upgrade its treasury and risk infrastructure using services from vendor SunGard. The bank wants to centralise its credit and market risk management, including initial margin and potential future exposure, in view of Basel requirements which oblige banks to adhere to higher standards of record keeping and transparency.

Capital markets should get back to basics say securities experts

Philippe Carre:

The securities industry is suffering from “innovatism”, a serious disease that if untreated could result in significant damage by detracting attention away from genuine business growth. At the same time, commercial pressures could force radical change in several areas of the capital markets, according to panellists at a debate hosted by Mondo Visione this week.

Outsource your way to happiness, urges SunGard

Banks can reduce the headaches associated with cost pressure, tough new regulation, legacy business complexity and changing customer demands by outsourcing non-core areas of business. That is the idea behind two new corporate actions products launched by financial technology vendor SunGard.