Unicredit and Datasynapse partnership.

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DataSynapse recently announced that UniCredit, one of Europe's largest banking and financial services companies, has completed implementation of DataSynapse GridServer software for use by the Capital Allocation Unit of its Italian operating division.

UniCredit is employing Application Virtualisation technology to improve the processing capabilities of its central pricing application named Bulldozer to deliver timely and compliant financial figures, while reducing the firm's exposure to operational risk. The GridServer deployment supports the unique pricing of the group's banking book, a requirement of International Accounting Standard (IAS) 39 and Basel II.

Under IAS 39 and Basel II, European banks are required to establish principles for recognising and measuring corporate holdings within their banking books. These include financial assets, financial liabilities and some contracts to buy or sell non-financial items. With strict compliance...

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