Poland's PKO Bank Polski is implementing Toronto-based Algorithmics' Algo Market and Algo Credit applications as the basis for its new enterprise-wide risk measurement system.
Algo Market is an enterprise system for measuring and managing market risks across all asset classes and product types. The product is built on the vendor's Mark-to-Future technology which allows firms to integrate market, credit, ALM and liquidity risk across the enterprise.
PKO will use Algo Credit to manage global limits and exposures for both trading and banking book products. The product also features Basel II functions.
Roman Maszczyk, managing director, risk management, PKO BP, says improving risk management capabilities is an important part of the bank's modernisation programme. He says the Algorithmics integrated solutions will "provide consistent, advanced analysis over all risk types".