Software, Inc. designed and implemented a large-scale global
loan syndication system for the Bank of Nova Scotia (BNS),
one of Canada's largest banks. Completed on time and within
budget, the system supported global loan syndication, which
enabled the selling of parts of loans to other financial institutions.
The system processed transactions for hundreds of millions
of dollars each day, and allowed BNS to structure highly sophisticated
deals involving scores of counterparties and complex interest
and fee calculations in multiple currencies.
innovative design elegantly addressed BNS's need for ironclad
data integrity and auditability. Not only could the system
identify who had last touched each piece of data and when,
but it could trace back in time to identify what the data
looked like previously. Further, the system allowed one to
roll the entire application back to any point in time so as
to enable the recreation and analysis of previous customer
statements and supporting schedules.
concerned that the need to support arbitrarily complex deal
structures would defy systemization and would create a perpetual
need for maintenance programmers. Pro-Found was able to generalize
the representation of deal structures into a set of powerfully
elegant data tables which could be understood and maintained
by business users. In over five years of flawless operation,
the system handled thousands of deal structures many of which
even BNS could not foresee at system inception.
over the course of several years, Pro-Found led a joint Pro-Found/BNS
team that at times consisted of more than a dozen people.
The network-based system, written in C++, served multiple
offices across the U.S. and Canada and interfaced to mainframe
accounting and other back office systems.