Source: Misys Banking Systems
Misys Banking Systems, a global leader in banking software and solutions, announces today that Commerzbank has upgraded to the latest version of Misys Risk Vision to gather and analyse the bank's local and global exposure to risk across its entire business.
For the last six years, Commerzbank has relied on the technology from Misys Banking Systems to provide it with a consolidated view of the risk it was bearing.
Frank Müller, Senior Vice President, Commerzbank, comments, "We are pleased to extend our relationship with our partner, Misys Banking Systems. The good performance of Risk Vision will be enhanced still further with the upgrade to Misys Risk Vision 5.4, allowing us to maintain our competitive edge and providing us with a good return on our investment. We will use it also for our new subsidiary Eurohypo to get a consolidated view of our activities in trading and investment banking."
There are over 900 people using Misys Risk Vision at Commerzbank, 600 of whom are directly involved in trading, based in London, Frankfurt, New York and Singapore. These traders have to make rapid decisions on the risks associated with each transaction they make before the deal is executed. The upgrade to Misys Risk Vision 5.4 has extended the flexibility of intra-day PFE calculations by introducing the use of 'Product-Sub Types', enhancing the view of exposure to the executive team at Commerzbank.
James Cheesewright, Chief Operating Officer, Core Banking, Misys Banking Systems, comments, "We have enjoyed supporting the team at Commerzbank for many years. While we have stopped major development of the Risk Vision products, this announcement reflects the robustness of the product and I am delighted that the bank has shown its confidence in both our technology and our support professionals. We look forward to continuing the relationship with Commerzbank and our other clients into the future."