3 JULY 2024 – Tokyo – Numerical Technologies (“NumTech”) has announced that Sumitomo Mitsui Trust Bank, Limited (“Sumitomo Mitsui Trust Bank”) has transitioned its credit VaR system, previously used as an internal model for credit risk management, to NumTech’s NtSaaS® for Credit Risk.
NtSaaS is a SaaS-based financial risk management solution provided by NumTech since 2020. Aiming to enhance the internal models of financial institutions, it offers a wide range of analyses, including market, credit, and integrated VaR measurements, interest rate risk management, and ALM focused on medium- to long-term profit simulations. Additionally, by using AWS PrivateLink, customers can connect to NtSaaS without going through the internet, ensuring a secure network.
Sumitomo Mitsui Trust Bank has been using NumTech’s credit risk management system since 2001, for nearly a quarter-century. The reasons behind their choice to switch from the traditional on-premises setup to NumTech’s NtSaaS, due to the aging of their servers, are as follows:
- High Service Quality and Proven Track Record in the Financial Industry:
The evaluation considered not only the features and performance of NtSaaS but also the high quality of service provided by NumTech. Extensive usage by many financial institutions also provides reassurance. - Quick Transition and Scalability:
As a SaaS solution, rapid migration is possible. The system can be flexibly expanded as needed, such as with the increase in computational scale in the future. - Security and Reliability:
Robust security features and efficient application upgrades improve the reliability of the service. It ensures data protection and the availability of operations.
A representative in charge of implementation from Sumitomo Mitsui Trust Bank’s IT Operations Promotion Division II commented, “After estimating that the time and cost required for building new servers and considering the operation and maintenance system in an on-premises setup would be significantly reduced, we decided to implement NtSaaS. NumTech not only has development capabilities in financial risk management systems but also possesses the know-how and operational track record of building secure services in the public cloud, enabling us to complete the migration without any issues.”
With the recent trend of rising interest rates, financial institutions are required to build new frameworks. Numerical Technologies will leverage its accumulated financial risk management expertise to develop services supporting the financial industry.
