Lombard Risk Management has tightened its grip on the Canadian banking market with another major bank signed up to its flagship Colline collateral management solution.
The collateral solution provider now hosts four of Canada’s largest banks on its Colline platform.
Although Lombard Risk was unwilling to name its clients directly, it did clarify that its new client’s capital markets group chose Colline to displace its current vendor solution.
“While they [the bank] 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,” explained Lombard Risk in a statement on the new client.
“Doing so will reduce their time and cost to market, as well as enable them to optimise 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.”
