Société Générale in collateral management tech revamp with Lombard Risk
UK-based regtech and risk management vendor Lombard Risk has extended its “global strategic partnership” with Société Générale.
The bank will roll out Lombard Risk’s collateral management system, Colline. It will be used to centralise and automate the bank’s cross-product collateral management operations across its various business lines, including investment banking operations, prime services (formerly Newedge) and securities services businesses globally.
The new agreement also includes the exchange-traded derivatives (ETD), over-the-counter (OTC) and clearing business lines.
Users will be located in New York, Chicago, London, Paris, Bangalore and Chennai.
The solution will be deployed on Société Générale’s internal cloud.
The decision to roll out Colline follows “a competitive global selection process”, the vendor states.
Franck Docquier, global head of collateral management operations at Société Générale, describes Lombard Risk as “an excellent partner” that provides “clear benefits” for the bank and its clients with its “agile and robust solution”.