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Luminor Bank Enhances Risk Management Operations with FIS Cloud-Based Solution
Luminor Bank, the leading local bank in the Baltics, has selected a cloud-based balance sheet management solution from financial technology leader FIS® (NYSE: FIS) to help the bank optimize liquidity and better manage risk as it continues its rapid expansion in the region.
Luminor Bank AS, which has nearly 900,000 clients, is the third largest provider of financial services in the Baltic banking market, and operates in Estonia, Latvia, and Lithuania.
The bank has selected the FIS Ambit Focus, an integrated, best practice balance sheet management solution. Based in the FIS private cloud, the solution provides versatile simulation and stress scenario capabilities to manage risk and regulatory requirements across profitability, liquidity and solvency.
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).
“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.”
“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.”
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