Automated Financial Systems (AFS), the global leader in providing
commercial lending solutions to top-tier financial institutions, today
announced that it has officially shipped its Basel II segment upgrade
for AFS Level III, its commercial lending system. It is the first
solutions provider in the lending space to do so.
"Today´s segment
delivery is an important first step for financial institutions that are
required or are opting in to Basel II." said
John Shain, president, AFS. "Furthermore, in
the current, volatile financial services environment, data quality
integrity and transparency as seen through the lens of Basel II are
gaining momentum beyond the regulatory community. AFS is committed to
equipping leading financial institutions as they shore up data and
improve loan origination and administration, while exerting tighter
controls to ensure accurate reporting and, ultimately, Basel II
compliance."
Available to AFS Level III clients with Releases 8.3.0 and above, the
segment houses critical Basel II risk parameters required for regulatory
capital modeling and reporting "“ a framework
adopted by U.S. financial regulators in November 2007.
"Prior to Basel II´s
approval, Automated Financial Systems aggressively partnered with us
helping us understand how the framework would impact our business and
our ability to effectively compete in the market," said Joel Hill, senior vice president, SunTrust Bank. "The
new segment will speed our Basel II compliance and set the stage for
establishing our models, reporting and integration with our suite of AFS
solutions."
Basel II Segment Integrates Into the AFS Solutions Set
The Basel II data segment is designed for seamless integration into AFS
offerings that provide a comprehensive platform for the management and
use of data, including:
Origination capabilities through AFS Commercial Loan Origination
ensuring accuracy and quality of the Basel elements at the point of
new loan booking
Summary and detailed reporting on the Basel elements that are
integrated with the portfolio detail and segmentation capabilities of
AFS Lender Workstation, which supports analytics and distributed
reporting to credit and lending staff/management
Ongoing data maintenance capabilities through AFS Loan Administration
to facilitate inquiries and updates to the Basel Elements
Post-booking workflow and control capabilities through AFS Credit
Administration to provide a controlled, managed process for
maintenance of the Basel II elements, including exception management
capabilities.
Through integration, AFS is providing a single system of record for
critical Basel elements in Level III along with reporting, maintenance
and control capabilities to address the banks´ needs for accurate, quality information.
AFS Professional Services Can Fast-Track Implementation
AFS also offers professional services to assist clients as they
implement the new Basel II segment in connection with source data
quality and field population or repopulation as needed. AFS Professional
Services is also offering clients intensive analysis of their unique use
of Level III tied to associated data quality while helping clients
maintain the integrity of Basel II data and identifying opportunities
for taking control. Banks interested in obtaining the upgrade and
finding out more about AFS Solutions and Professional Services should
contact Karen Jorgenson, managing director, AFS via phone (+1
484.875.1354 or email (kjorgenson@afsvision.com).
About Automated Financial Systems
Automated Financial Systems (AFS) is the global leader in providing
commercial lending solutions to top-tier financial institutions. We work
with a majority of the world´s 50 largest
financial institutions to build lending processes based on a
straight-through model and on-demand technology and services. In doing
so, we partner with client banks to understand their organization´s
strategic goals and work proactively to achieve their business and
technology objectives. We also partner with the Risk Management
Association (RMA) to power the Risk Analysis Service, banking´s
industry-standard credit risk benchmark that gauges risk exposure among
peer banks, while enabling continuous improvement. AFS is headquartered
in Exton, Pennsylvania, a suburb of Philadelphia; its European
subsidiary, Automated Financial Systems GmbH, is based in Vienna
Austria. For further information, visit our website at www.afsvision.com.
