Société Générale has signed a £2 million contract with Lombard Risk Management for collateral management and regulatory reporting software.
The bank will use Lombard Risk’s web-based Colline system to run its collateral management operations - the process of agreeing transactions concerning assets used as security for loans - in six countries across Europe, Asia and the Americas.
As well as helping Société Générale to manage its credit risk, the solution will also provide electronic messaging, full clearing functionality, management information systems reporting and regulatory reporting.
The latest contract is also part of the bank’s measures to improve regulatory reporting across the business. Last year, it was fined £1.575 million by the Financial Services Authority for failures in transaction reporting.