Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced today that Bank Simpanan Nasional (BSN) has selected Fiserv KRM to strengthen the bank’s risk processes. BSN managers will use Fiserv KRM to support asset/liability management, liquidity management, profitability management and regulatory reporting.
Used to manage credit risk, liquidity risk and interest-rate risk, Fiserv KRM incorporates advanced risk concepts developed by Robert A. Jarrow, an originator of the Heath-Jarrow-Morton multi-factor term structure model. Jarrow is also the recipient of the Risk Magazine 2009 Lifetime Achievement Award in recognition of his contribution to the modern discipline of mathematical finance.
"Our branch network is extensive, so we look very carefully at improving profitability reporting by business and support units as well as by products, taking into account all the risk elements inherent in the activity or product," said Adinan Maning, chief executive officer for BSN. "We feel that the funds transfer pricing capabilities of Fiserv KRM, along with its risk management strengths, will bring valuable insights that will lead to better short- and long-term decisions about our risk and profitability strategies."
Adinan also added that Fiserv has scenario planning tools that can provide simulated results which would help BSN in making informed decisions based on its risk appetite.
"Thanks to the power of its analytics, Fiserv KRM provides institutions with precise, accurate results," said Clement Ooi, vice president and managing director of Asia-Pacific operations for Risk and Performance Solutions, Fiserv. "This level of accuracy is a strategic advantage that BSN can expect from Fiserv KRM, and one that will become increasingly vital for institutions as regulatory reporting requirements escalate and global economic volatility demands more flexible and sophisticated forecasting."
BSN has been a leading business presence in Malaysia for more than 30 years, though its roots can be traced to savings institutions originally established in the late 1800s. With approximately $5 billion in assets, BSN has a wide network of 375 branches throughout Malaysia to serve more than 7 million customers. The bank has embarked on a number of key initiatives to catalyze transformation, stay competitive and to become an entity that is able to create sustainable value.