Erste Group Bank AG Selects Lombard Risk's Colline service for collateral management pperations
Posted 27 October 2011 - 10:21am by Visitor
Lombard Risk Management plc a leading provider of integrated collateral management, liquidity and regulatory reporting solutions for the financial services industry, announces that Erste Group Bank AG a CEE financial services group - has selected Lombard's Colline service as its strategic collateral management solution. This contract further extends Lombard Risk's growing customer base in EMEA, and in particular in the German-speaking region.
Colline is a state-of-the-art, web-based solution designed by experienced business practitioners for end-to-end, cross-product collateral management. It provides a consolidated solution for mitigating credit risk while meeting the growing demand for multiple global entities, cross-product margining, Central Counterparty Clearing (CCP), MIS reporting and electronic messaging.
Erste Group has decided to use the Lombard Risk's Colline system to increase efficiency and have the possibility to manage its OTC collateral operations more effectively. Lombard Risk's Colline solution was chosen after a detailed selection process where it had to compete with the top products on the market. The system and the vendor have been selected because their system fulfilled all of Erste Group Bank AG's functional and technical requirements, having good references from existing clients and at the same time being cost efficient in implementation and running operation.
Adam Zentai, Head of Risk Management and Business Support, Group Capital Markets commented: "Erste Group will benefit from the new collateral system in having a state-of-the-art collateral management tool that allows for efficient and precise exposure and margin calculations and, through a high degree of possible automation, decreases the operational risks incurred in a manual margining process."
Martin Heraghty, Sales Director EMEA commented: "Lombard Risk is very pleased to welcome Erste Group Bank AG to its ever-growing customer base. COLLINE(R) is already well established in EMEA and in particular the German speaking region and this strategic win will help us grow this part of our business even further."