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BancWare News
E*TRADE Bank licenses SunGard solution BancWare to provide interest rate risk management with advanced analytics SunGard Trading and Risk Systems today announced that E*TRADE Bank has licensed the BancWare suite of advanced analytical modeling products to manage interest rate risk on its balance sheet. E*TRADE Bank is a $9 billion Internet bank that more than doubled its assets in the past year. It will use the advanced Option Adjusted Value-at-Risk (OAV@R) analytics of BancWare Viewpoint, a product that will determine interest rate risk and market value for the Bank?s investment portfolio as well as across its balance sheet. Dennis Webb, senior vice president and risk manager of E*TRADE Bank, said, ?BancWare offers the most complete risk management solution, with strong analytics, excellent reporting, and dynamic interfaces to third-party vendor solutions. We will use the information from BancWare to plan business strategies as we manage risk/return tradeoffs from our assets, liabilities, and derivatives.? Mr. Webb added, BancWare?s emphasis on quality control sets it apart from its competitors.? E*TRADE Bank will also install BancWare Convergence, an integrated forecasting and interest rate risk management system, and BancWare Insight, a data collection, transformation and management system with a funds transfer pricing option. Terence Faherty, chief operating officer of SunGard?s BancWare business unit, said, ?BancWare has long been recognized as a leading provider of integrated risk and planning solutions. Our asset/liability management and financial planning solution is used by more than 200 banks and other financial institutions in over 28 countries. Our clients rely on us to offer complete solutions, from data integrity to advanced analytics, supported by our quality assurance and outstanding client services. We are pleased that E*TRADE, an innovator in brokerage, and now in banking, chose BancWare for all of these reasons.? About E*TRADE Bank E*TRADE Bank is a wholly owned subsidiary of E*TRADE Group, Inc. Deposits at E*TRADE Bank are insured up to $100,000 by the FDIC. E*TRADE Bank is the nation?s largest pure-play Internet bank and is the only pure-play Internet bank to be ranked among the top 19 federally chartered U.S. savings banks for both assets and deposits based on FDIC data. As of September 30, 2000, E*TRADE Bank had over $9.0 billion in assets, $4.6 billion in deposits and over 290,000 customer accounts. E*TRADE Bank can be accessed at etradebank.com or 1-800-ETBANK-1. About E*TRADE Group, Inc. E*TRADE is a global leader in online personal financial services, offering value-added investing, banking and research features, premium customer service and a redundant, proprietary Stateless ArchitectureSM infrastructure. Lafferty Internet Ratings recently rated E*TRADE as the number one global online broker (9/00). In addition to the U.S., E*TRADE presently serves customers in Australia, Canada, Denmark, Japan, Korea, New Zealand, Norway, Sweden, South Africa, and the U.K., through branded web sites. E*TRADE Securities, Inc. (Member NASD/SIPC), and its parent company, E*TRADE Group, Inc. have offices in Northern California and in other major business centers in the U.S. and worldwide. E*TRADE and the E*TRADE logo are registered trademarks of E*TRADE Securities About BancWare and SunGard BancWare?s asset/liability management and financial planning solutions are developed and marketed by SunGard Trading and Risk Systems, an operating unit of SunGard (NYSE: SDS) is a global leader in integrated IT solutions and eProcessing for financial services. SunGard is also the pioneer and a leading provider of high-availability infrastructure for business continuity. With annual revenues in excess of $1 billion, SunGard serves more than 10,000 clients in over 50 countries, including 47 of the world?s 50 largest financial services institutions. Visit SunGard at www.sungard.com. ********************************************************************** < This email and any files transmitted with it are confidential < and intended solely for the use of the individual or entity to < whom they are addressed. If you have received this email < in error please notify the system manager. < < This footnote also confirms that this email message has < been swept by MIMEsweeper for the presence of computer < viruses. < **********************************************************************
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