Misys Risk Management Systems & Almonde help BCEN EUROBANK to achieve Basel II accreditation and enhance its financial control
LONDON, 01 May 2005 – Misys Risk Management Systems today announced that BCEN EUROBANK has contracted with Misys Risk Management Systems for delivery of the Almonde Basel II™ solution from its strategic partner Almonde, following a competitive tender with all known risk vendors. The regulatory solution will help the bank to be compliant with the new regulatory framework and improve their internal risk management and financial control processes.
The new system, to be implemented with immediate effect, will include the regulatory compliance solution from Almonde for Basel II, as well as ALM. It will enable BCEN EUROBANK to generate Risk-Weighted Assets (RWA) and Regulatory Capital using the Standardized and Foundation Internal-Ratings Based (IRB) approaches, including Expected Losses (EL). Through its process management capabilities, the specialised solution will provide automation, structure and security features for making regulatory compliance easier and more auditable. The Data Store will collect and maintain the data and calculated results on a historical basis. Complete Basel II reports will provide a full compliancy for the bank.
Philippe Le Dunff, IT Director at BCEN EUROBANK comments, “We are aiming to achieve accreditation for Basel II and to improve our financial controls by the implementation of the Misys-Almonde platform for Basel II, ALM” He continues, “BCEN chose the Misys-Almonde platform because it not only met the selection criteria but also offered many additional benefits.”
Michel van Leeuwen, CEO, Misys Risk Management Systems explains, “We’re thrilled with the implementation of our partnership product at BCEN EUROBANK. This sale reflects the strength of our relationship with strategic partner Almonde, and exemplifies the continued advancement of Misys Risk Management Systems and the best of breed Enterprise-Wide Risk Management solutions that we provide.”
For further information, please contact:
Alexis Payton
Misys Risk Management Systems
+44 (0)20 8486 1765
alexis.payton@misys.com
About Misys Risk Management Systems
Misys Risk Management Systems, part of the Banking and Securities Division of Misys plc, is focused exclusively on the provision of enterprise wide risk management solutions. Its portfolio of functionally rich and highly flexible solutions supports real time global limits and exposure management, Basel II, ALM, operational risk and economic capital.
Misys plc, the global software products and solutions company, serves customers in the international banking and securities, international healthcare, and UK general insurance industries. Through a wholly owned subsidiary, Sesame, it also provides business process outsourcing services to independent financial advisors (IFAs) in the UK. Misys partners with its customers to deliver outstanding IT solutions to essential industries, and employs over 6,000 people internationally. For more information, visit www.misys.com.
About Almonde
Almonde, based in London and Paris, provides banks with regulatory and best practice risk management software solutions that leverage the most recent, robust and open technology. Almonde offers Basel II, ALM, IAS and FTP software solutions for banks. Almonde’s Basel II solution enables banks to achieve full Pillar 1, 2 and 3 coverage by providing Credit, Operational, Market and Interest Rate (ALM) Risk analytics; Advanced analysis (such as Stress-testing, Scenario analysis and back-testing); Data warehouse; and Reporting.
About BCEN EUROBANK
BCEN-EUROBANK is a French bank with Russian capital, incorporated under French Law and subject to the control of the French authorities - the Banking Commission and the Banque de France. Since it was created in 1921, BCEN-EUROBANK has combined expertise in Western banking practice with its knowledge of the CIS environment and Russia in particular. Its specific advantages in France and in Russia enable the Bank to set up unique, exhaustive reliable partnerships with Russian and Western investors for the development of commercial and financial flows with the CIS and countries in the West. Its history, double culture, structures and services have established BCEN-EUROBANK in an essential undeniable position to tackle the extensive Russian market.
