Rockall Technologies announced today that its Systematic Tracking of Collateral (STOC) solution has been chosen by Wells Fargo (NYSE: WFC) to help centrally manage and control risks associated with marketable securities underlying loans originated by its Wealth, Business Banking and Wholesale Banking business units, as well as loans referred to the Bank by its Retail Brokerage units.  STOC, which monitors marketable securities pledged as collateral to secure loans, was first implemented by Wachovia Bank in 2006. After Wachovia’s merger with Wells Fargo, it was subjected to a rigorous examination before being selected as the go-forward platform for Wells Fargo. 

Wells Fargo, one of the largest commercial banks in America with 1.2 trillion in assets (as of 4/30/10), determined that STOC could meet their stringent requirements for enhanced risk management and operational efficiency, including:

• supporting multiple risk policies for different products, asset classes and lines of business
• supporting complex cross collateralization
• supporting asset concentration limitation and other risk mitigation strategies
• functioning as a workflow engine as well as a reporting system including reassigning tasks, balancing workloads, providing prescribed resolution work steps and producing trend reporting
• providing a calculation engine to automate collateral margin calculations used to qualify brokerage accounts for new or modified loans helping to avoid mistakes in valuing large/multiple accounts

"We quickly needed a single enterprise platform that brought substantial automation and efficiencies, supported a broad array of products, and added significant risk management capabilities for today’s uncertain and volatile markets,” said Matt Stark, Senior Vice President of the Wells Fargo Wealth, Brokerage and Retirement Credit Risk Group. “The Rockall STOC system proved to be the right strategic choice for us."

Rockall CEO Luke Nestor also pointed out that a primary selection criterion was STOC’s proven ability within Wachovia to fully interoperate and support all interfacing applications including commercial and mortgage loan servicing and origination systems, brokerage and trust systems, valuation feeds and customer systems.

“We are extremely pleased that Wells Fargo selected Rockall as their go-forward platform. We have had a close association with Wachovia for many years and their contribution to the depth of the STOC product has been invaluable.  We are now excited to continue this collaboration in the service of Wells Fargo.”

About Rockall Technologies

Rockall is a global provider of expert collateral management solutions for the financial services industry. Rockall delivers industry best practice and a modern system specifically developed for enterprise-wide collateral management. The Rockall system enables institutions to confidently fund commitments while ensuring compliance with regulatory and risk management policies that need to be continuously and precisely monitored. The company has achieved 100% client retention and reference-ability and has deployed into retail banking, commercial and business banking, wholesale banking, private banking, wealth management, and broker-dealer operations. For more details on Rockall clients and solutions, go to www.rockalltech.com.

Rockall EMEA Contact:                                          

Leslie Duckett

Sales Director, EMEA                                                                                               

+353 (1) 268 6314                                                     

leslie.duckett@rockalltech.com

Rockall Americas Contact:                                     

Kevin Lash

Sales Director, Americas                                                                                           

+1 (704) 543-0610                                                     

klash@rockalltech.com