German mortgage consortium Eurohypo is to use Paris-based Fermat's risk management suite to address both normative (Basel II, IAS) and economic risk measurement (ALM, global credit risk monitoring).
The package was sold to Eurohypo - formed in 2002 from the merger of Deutsche Bank, Dresdner Bank and Commerzbank's real estate and public lending subsidiaries - by Ubitrade, Fermat's distributor in Germany.
Hans-Joachim Lübbing, project manager at Eurohypo, says the software will be implemented to handle current and upcoming regulatory and economic requirements.
"We also share Fermat's vision of the financial datamart, which we consider to be the cornerstone of our future risk management platform," he adds. "Another key element was Fermat system's ability to handle large data volumes with high performances."