China’s Ping An Bank will implement an asset/liability management (ALM), liquidity management and funds transfer pricing solution from Fiserv, the financial services technology provider. Ping An Bank will also adopt Fiserv’s bank-wide daily liquidity and interest-rate risk management solution which is able to handle regulatory reporting. In addition, the bank will replace its in-house funds transfer pricing solution which lacked forward funds transfer pricing projection and analysis capabilities.
“We chose Fiserv for its ALM, liquidity management and funds transfer pricing expertise, as well as its responsiveness and availability,” said Li Xu Ping, Ping An Bank’s head of ALM, in a statement. “We were also very pleased with Fiserv’s strong implementation, integration and project management capabilities and resources.”
Fiserv’s solution is used to manage the bank’s integrated and advanced liquidity risk, interest-rate risk, market risk, credit risk and economic capital, which will help the bank improve its corporate governance and enterprise risk management. The implementation plan also included educational courses presented by Fiserv on asset/liability management, funds transfer pricing and risk adjusted return on capital to Ping An Bank’s board of directors, senior management, managers and users.
“The combination of our market leading technology and the educational collaboration with Ping An’s key executives enables Ping An to create a competitive earnings and corporate governance advantage in current Basel regulatory areas such as stress testing, liquidity risk management and safe capital optimisation,” said John Filby, president of risk and compliance at Fiserv.
Founded in 1988 and headquartered in Shenzhen, Ping An Bank is one of three key divisions of Ping An Insurance Group (Ping An). With approximately Rmb1.17 billion in assets, it has branches in Shenzhen, Shanghai, Fuzhou, Quanzhou, Xiamen, Hangzhou, Guangzhou, Dongguan, Huizhou and Zhongshan.
Ping An has grown from a property and casualty insurer to one of the largest providers of diversified financial services and products in China. Listed in Fortune magazine’s “Global Top 500,” Ping An has also been named in the Forbes “Global Listed Companies 2000” and in the Financial Times “Global 500.” The firm’s integrated structure enables it to serve the insurance, banking and investment needs of more than 60 million retail customers.
