Royal Bank of Scotland selects Algorithmics for credit risk management
06 May 2003 | 4589 views | 0
The Royal Bank of Scotland (RBS) is implementing Toronto-based Algorithmics' Algo Credit package to manage global limits and exposures across its commercial and treasury portfolios.
Algo Credit's limits and exposure functionality provides an integrated framework for managing credit risk across the enterprise, covering real-time global limits and counterparty exposure management for both trading and banking book products.
Laurie Mayers, group head of Basel II and credit systems coordination, RBS, says: "With Algo Credit, we are getting a single, fully integrated view of our counterparty exposure across all products and business lines.
"Longer term, Algo Credit will also serve as a core data storage and aggregation platform for our BIS II risk architecture at the group and core wholesale bank level," adds Mayers.
The software will replace some of the bank's internal limit and exposure management systems at divisional and enterprise level. In other cases, Algo Credit will be integrated with existing operating systems to provide a a global view of credit risk.
Algorithmics says installation of Algo Credit will be completed across RBS' core corporate bank and financial markets businesses by the end of 2003 and will be followed by interfaces to subsidiaries' credit systems.