BROOKFIELD, Wis.--(BUSINESS WIRE)--
Fiserv,
Inc. (NASDAQ: FISV), the leading global provider of financial services
technology solutions, announced today that Ping
An Bank has implemented the Fiserv solution for asset/liability
management, liquidity management and funds transfer pricing.
With approximately RMB 1.172 billion in assets, Ping An Bank required a
bank-wide daily liquidity and interest-rate risk management solution
that would also handle its regulatory reporting. In addition, the bank
chose to replace its in-house funds transfer pricing solution, which
lacked key functionality such as forward funds transfer pricing
projection and analysis.
Ping An's selection of Fiserv was based on the combination of strong
product technology as well as deep subject matter expertise. As part of
the implementation plan, Fiserv presented educational courses on
asset/liability management, funds transfer pricing and risk adjusted
return on capital (RAROC) to the bank's Board of Directors, senior
management, managers and users.
The Fiserv solution is used to manage integrated and advanced liquidity
risk, interest-rate risk, market risk, credit risk and economic capital
— essential components of effective corporate governance and enterprise
risk management.
"We chose Fiserv for its ALM, liquidity management and funds transfer
pricing expertise - as well as its responsiveness and availability,"
said Mr. Li Xu Ping, Head of the ALM department, Ping An Bank. "We were
also very pleased with Fiserv's strong implementation, integration and
project management capabilities and resources."
"The combination of our market leading technology and the educational
collaboration with Ping An's key executives enables Ping An to create a
competitive earnings and corporate governance advantage in current Basel
regulatory areas such as stress testing, liquidity risk management and
safe capital optimization" said John Filby, president, Risk &
Compliance, Fiserv.
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 100TM.
About Ping An Bank
Ping An Bank is one of three key divisions of the Ping An Insurance
[Group] Company of China, Ltd. (Ping An). Founded in 1988, Ping An has
grown from a property and casualty insurer to one of the largest
providers of diversified financial services and products in China and
one of the most widely recognized companies globally for its revenue,
profitability and overall business performance. Listed in Fortune
magazine's "Global Top 500," Ping An also has been named to the Forbes
"Global Listed Companies 2000" and in the Financial Times "Global 500."
Its integrated structure enables Ping An to serve the insurance, banking
and investment needs of more than 60 million retail customers. Ping An
Bank is headquartered in Shenzhen, with branches in Shenzhen as well as
Shanghai, Fuzhou, Quanzhou, Xiamen, Hangzhou, Guangzhou, Dongguan,
Huizhou and Zhongshan.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of
information management and electronic commerce systems for the financial
services industry, driving innovation that transforms experiences for
financial institutions and their customers. Fiserv is ranked No. 1 on
the FinTech 100 survey of top technology partners to the financial
services industry. For more information, visit www.fiserv.com.
(FISV-G)
Media Relations:
Julie Nixon
Senior Public Relations
Manager
Fiserv, Inc.
678-375-3744
julie.nixon@fiserv.com
or
Additional
Contact:
Wade Coleman
Director, Global Communications
Fiserv,
Inc.
678-375-1210
wade.coleman@fiserv.com
Source: Fiserv, Inc.
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