Rolf Hengsteler, Chief Risk Officer at Depfa said, "At DEPFA, we see this as a strategic initiative that will influence the way we do business, as well as an important building block in our communication strategy with regulators and investors."

Magnus Thor Agustsson, Managing Director of Risk Methods at DEPFA added, "With Algorithmics' sophisticated and proven risk solutions, we plan to leverage best-practice risk management techniques to create value. We appreciated the option of a quick implementation, with initial reports beginning only six weeks after our purchase. Now, we have gone further, integrating the economic capital measures into pricing tools and regulatory compliance reports."

Michael Zerbs, President and COO of Algorithmics, said, "DEPFA Bank is an unusually decisive and innovative financial institution, and one with which we look forward to a fruitful partnership."

Diane Reynolds, Director of Economic Capital Solutions at Algorithmics, continued, "DEPFA is looking to take advantage of many unique aspects of Algo Credit Economic Capital, including its ability to model the trading book for integrated analysis of market and credit risks and its ability to forecast to multiple time horizons. It is these features that support not only regular monitoring typically associated with risk management, but planning, budgeting and forecasting processes critical to meeting management objectives."