Israel's United Mizrahi Bank selects Algorithmics risk management technology

Israel's United Mizrahi Bank selects Algorithmics risk management technology

Israel's United Mizrahi Bank is using technology from Algorithmics to implement an enterprise risk management system that complies with Basel II regulations.

The bank's new enterprise-wide system will be based on Algorithmics risk management technology, Algo Risk, which it will use to manage market, ALM and liquidity risk.

Algorithmics says United Mizrahi will also use its Algo Capital system to meet Basel II requirements and effectively allocate regulatory and economic capital.

Shimon Gal, VP, comptroller division manager at United Mizrahi, says the enterprise-wide system "will allow the various users across the bank to manage risk using some of the most advanced analytic instruments on the market delivered through an integrated, efficient risk platform".

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