SunGard partners with Raft International to deliver integrated operational risk management solution

SunGard Trading and Risk Systems, an operating group of SunGard has announced a partnership with Raft International to deliver an operational risk management solution. The solution combines the proven project delivery methodology delivered by SunGard's EnFORM Consulting operating unit with Raft's Radar software for qualitative and quantitative operational risk measurement, management and control.

According to a recent report from the Tower Group, ‘Technology challenges for Basel II- compliance or opportunity’, operational losses are estimated to cost financial institutions over $50 billion a year. Thus, a comprehensive solution to operational risk management is becoming increasingly urgent, with regulations like Basel II encouraging innovation.

The SunGard/Raft partnership responds to the industry's need for a solution that combines integrated operational risk management software with comprehensive consulting services and reliable project management and solution delivery. SunGard also offers operational risk management customers a resilient business continuity option and a path to integrated, enterprise-wide market, credit, interest rate and operational risk management.

Raft Radar is an award-winning solution used by financial institutions worldwide for the capture, tracking and eventual reconciliation of loss events with a process, risk and control environment within an organisation. Raft Radar integrates the four key elements of operational risk management; control self-assessment, key performance indicators, incident management, and scorecard based capital allocation. Its architecture provides functionality and scalability for growth and acts as an aid to straight-through processing.

www.sungard.com
www.raftinternational.com

•Date: 28th October 2003 •Region: Worldwide •Type: Article •Topic: Operational risk
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