Luminor Bank selects FIS’ Ambit Focus to boost risk management services
By Megha Bhattacharya
Luminor Bank today announced that it has selected a cloud-based balance sheet management solution from FIS with an aim to help the bank optimize liquidity and better manage risk. Luminor selected FIS Ambit Focus that offers simulation and stress scenario capabilities to manage risk and regulatory requirements across profitability, liquidity and solvency.
“With its advanced functionality, this innovative cloud-based solution vastly improves our ability to manage risk and maximize our liquidity. It also supports continuously evolving regulatory requirements,” said Olof Sundblad, Head of Treasury and ALM at Luminor Bank AS. “We are excited to work with FIS as we continue to grow our business across the Baltics.”
According to FIS, the solution will provide the bank with advanced tools for assessing the market risk of its financial instruments and enhancing stress testing capabilities, while helping Luminor Bank comply with regulatory requirements, including Interest Rate Risk in the Banking Book (IRRBB).
“The way banks measure and report on market and liquidity risk is changing quickly, with a growing percentage of capital markets firms now placing an increased reliance on cloud and managed services,” said Nasser Khodri, Head of Capital Markets Sell Side at FIS. “FIS is committed to helping our clients stay ahead of the rapidly changing market. This solution will provide Luminor Bank with the functionality, flexibility and visibility it needs in order to support its business well into the future.”
Recently, Nordic challenger bank Lunar selected FIS‘ cloud-based treasury and risk management solution with an aim to gain support in liquidity optimisation, risk management and expansion. Lunar selected the FinTech’s private cloud-based Ambit Quantum for simplifying hedge accounting, regulatory compliance etc. The FinTech will implement the solution on the private cloud under a managed services contract.
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