Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced today that Krung Thai Bank has selected Fiserv for asset/liability, market risk, interest rate risk, foreign exchange risk and daily bank-wide liquidity risk management.
Based in Thailand with 1,957,827 million Baht in assets (almost US $63 billion), Krung Thai Bank required an integrated solution that would allow it to perform bank wide interest rate, foreign exchange and liquidity management on the banking and trading books in a single database. Additionally, the bank needed a solution that would allow it to produce daily Bank of Thailand regulatory reports and, most importantly, customer behavior adjusted daily liquidity reporting with contingency planning.
“We chose Fiserv because of its local expertise, comprehensive financial instrument coverage, strong implementation team, project management, prompt support and deep industry knowledge,” said Poonpart Sripleng, executive vice president, Risk Management Group, Krung Thai Bank. “They understood our needs, created a solution that addressed all of them and then implemented the solution effectively.”
“The Fiserv solution will help Krung Thai Bank execute stress testing for all risks across the full spectrum from possible to likely to probable,” said John Filby, president, Risk and Compliance, Fiserv. “Robust stress testing requires well-informed management, defined risk tolerances, complemented by solutions that enable advanced enterprise risk modelling. With our solution, we can help Krung Thai Bank achieve a true measure of safety and soundness across their banking and trading books.”
A core competency of the company, Fiserv offers a unique breadth of Risk and Compliance solutions to help clients optimize usage and return on capital by making risk transparent and actionable within their organization. Solution areas include Financial Crime Risk Management, Financial Risk Management, Financial Performance Management and Financial Control Solutions. Fiserv is ranked #1 in North America and #4 overall in the annual Chartis RiskTech 100(TM).
