The Bank of Ireland has begun implementing Toronto-based Algortihmics' Algo Credit software to manage global limits and exposures at both its treasury and financial banking operations.
Algo Credit's functionality provides an integrated framework for managing credit risk and covers real-time global limits management for both trading and banking book products.
Catherine Keane, director and head of credit and financial institutions, Bank of Ireland treasury & intl, says the software will improve the bank's existing risk practices: "We now have an improved credit risk system that can handle large transaction volumes and capture all of our positions across business lines with the most advanced analytics available.
"This will in time give our traders more precise real-time inquiries on our limits with counterparties and support more effective credit utilisation."