Lombard Risk Management Regulatory News (LRM)

21 Dec 2009 07:10



Lombard Risk Management plc

21 December 2009

LOMBARD RISK MANAGEMENT WINS ABN AMRO CONTRACT

Lombard Risk Management plc, ("Lombard Risk") the global provider of specialised software solutions that improve the management of collateralised trading, liquidity and regulatory compliance, has won a new contract with ABN AMRO Bank N.V, a bank headquartered in the Netherlands. 

ABN AMRO will be using Lombard Risk's Collateral Management software product, COLLINE®. COLLINE® is a sophisticated, web-based collateral management software solution that facilitates efficient management and straight through processing of the entire margin call and reconciliation process. COLLINE® is a pure internet application that runs securely within a web browser from anywhere in the world without requiring any desktop software, and is highly scalable to meet the needs of top global banks and small institutions alike. 

The contract was agreed after a thorough period of testing, during which the system was compared with competitor systems by the team adopting the system at ABN AMRO, including the system that had been used by the bank historically. 

John Wisbey, CEO of Lombard Risk commented,

" We are delighted to announce this contract win with ABN AMRO. Their decision to use our COLLINE® product was made after a rigorous, competitive process and marks another occasion where we replaced the historically dominant player in this market at a large bank. This follows on from a major contract announced in April 2009 with a top Tier 1 European bank, and other deals concluded during the year with good names such as National Bank of Greece, Loomis Sayles and Pacific Life."

 In a world of increasing financial regulation, some of the world's top banks rely on Lombard Risk to monitor and manage their risk. Our products in Collateral Management, Liquidity and Regulatory Compliance are all increasingly complementary as banks and regulators alike look in ever more similar ways at counterparty risk, liquidity and collateral flows. 

"The Company is at an exciting position in its development. Following the capital raising in October, our platform for growth is excellent. We are investing in accelerating the growth of the business. We are confident that we will be able to update shareholders on further new business wins shortly."

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For further information please contact:

Lombard Risk Management plc 

John Wisbey, Chairman and CEO

Keith Butcher, Finance Director

Tel: 020-7089-3700 

Noble & Co Limited

John Llewellyn Lloyd

Sam Reynolds

Chris Connors

Tel: 020 7763 2200

City Profile 

Simon Courtenay

Tel: 020-7448-3244