Two Major Banking Firms Choose Lombard Risk’s Collateral Management Solution
Two Major Banking Firms in North America Select Lombard Risk’s Collateral Management Solution, COLLINE®
Lombard Risk Management plc, a leading provider of integrated collateral management, regulatory compliance and reporting solutions for the financial services industry, is pleased to announce that it has been appointed by two major banking firms in North America to supply its award-winning collateral management, clearing, inventory management and optimisation solution, COLLINE®.
COLLINE® enables firms to move away from managing collateral in business line silos by supporting multiple asset types on a single, web-based platform. A single platform results in more efficient collateral management, enables collateral optimization, and provides users with the capability to manage liquidity and trading book capital.
Lombard Risk’s COLLINE was chosen for its ability to quickly deliver agile and adaptable solutions for these highly complex organisations. As is the case across the world’s largest banks, these new clients’ decisions to move away from costly legacy applications in order to consolidate their systems and margining processes was a major driver in selecting Lombard Risk.
By leveraging COLLINE®’s straight-through-processing (STP) and exception-based processing they can also reduce operational risk. The COLLINE® cloud computing service also enables faster deployment and a substantially lower cost of setup and ongoing maintenance, affording clients the ability to realise business benefits sooner.
Alastair Brown, Lombard Risk’s Chief Executive Officer commented: “Our ability to deliver agile solutions to banks with complex requirements has enabled us to secure the business of another two prestigious financial institutions in North America. These wins further cement Lombard Risk’s position as a leading provider of collateral management solutions to the North American financial services market.”
John Groetch, Managing Director, Americas, Lombard Risk added: “We’re delighted to be working with these firms on delivering a collateral management solution that reduces costs and improves operational efficiency. By working closely with our clients we develop a deep understanding of their specific needs so we can deliver competitive advantage through bespoke and agile solutions.”
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