Tech consultancy GFT is developing new software for collateral specialist Lombard Risk.

The business usually caters to banks but is currently building a new user interface for Lombard's Software as a Service (SaaS) model.

SaaS - web-based software that is owned, delivered and managed remotely by a provider - is part of Lombard’s collateral growth strategy.

GFT's remit is to link the technology with Lombard’s core COLLINE platform – a system that automatically calculates exposure and balances collateral needs.

“GFT’s expertise and broad experience in this area helps to ensure that our SaaS solution delivers a number of advantages for Lombard Risk’s clients, including: ease of use, intuitive usability and greater efficiencies across our client’s collateral operations," said Alastair Brown, Lombard's chief executive.

Gareth Richardson, managing director at GFT added: “This is another great achievement for GFT as we extend our service offering into other associated financial markets and we are delighted to be able to support Lombard Risk in their strategic plans for the future.”