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Bank of Moscow signs for IPS-Sendero risk management package

22 January 2008  |  3585 views  |  0 Risk on chalkboard

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.

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