Lombard Risk Management plc (LSE: LRM) has been selected by a significant Canadian bank to provide its COLLINE® collateral management solution. This latest win builds on continued success in Canada for Lombard Risk, which now counts four major Canadian banks as clients for its popular collateral management solution.
In the most recent win, the capital markets group of this Canadian banking powerhouse chose Lombard Risk’s COLLINE®to displace its current vendor solution. While they had initially considered building a collateral system internally, Lombard Risk’s reputation amongst other peer banks in Canada, coupled with the need to meet tight regulatory requirement deadlines, compelled the bank to select COLLINE® for its core collateral function. Doing so will reduce their time and cost to market, as well as enable them to optimize the use of their available assets. With desks in Toronto, New York and London, COLLINE® will provide a global view of the bank’s inventory and support cross-product margining. Lombard Risk expects COLLINE® to be fully implemented by the end of 2017.
This marks part of a wider success story for Lombard Risk in North America as the bank also selected the company’s regulatory reporting solution, AgileREPORTER®, earlier this year. They are the third large North American institution to leverage two of Lombard Risk’s core products to meet their business requirements.
John Groetch, Managing Director for the Americas, Lombard Risk said: “This represents a significant win for Lombard Risk as we extend our reach into the strategically important Canadian marketplace. We are very excited about building on our already noteworthy relationships, meeting collateral management needs and establishing Lombard Risk as the solution provider of choice in this region. With three large Canadian bank implementations already completed over the past two years, we are looking forward to quickly delivering another efficient and powerful collateral management solution.”