Bank of Nova Scotia

Pro-Found 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.

Pro-Found's 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.

BNS was 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.

Developed 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.


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