Bank of Moscow signs for IPS-Sendero risk management package
22 January 2008 | 3487 views | 0
Fiserv subsidiary IPS-Sendero says Bank of Moscow has licensed its risk management offering, IPS-Sendero KRM, which is based on technology developed by Honolulu-based Kamakura Corporation.
The IPS-Sendero KRM package is used to manage credit risk, market risk, interest rate risk and for Basel II capital calculations.
The technology will enable Bank of Moscow - which has 98,000 corporate and eight million individual customers - to manage assets more efficiently and profitably, says the vendor.
"IPS-Sendero KRM complies with international standards, including the Basel II Accord, and it will allow the bank to optimise its risk management, including interest-rate, currency and liquidity risk," says Igor Burlakov, director of the Bank of Moscow's resources and liquidity risks department.
Chuck Rowland, VP and MD of IPS-Sendero international operations, says recent market events have shown that banks require tools that provide a quick, efficient and accurate picture of the risks they face.
"IPS-Sendero KRM creates that picture, allowing banks to make profitable business decisions without relying on a 'fly by the seat of your pants' style of risk management," he adds.
IPS-Sendero inked a reseller deal with Kamakura Corporation in 2001 to market the Kamakura Risk Manager system outside the US and Canada.