Thomson Reuters today announced that it has been selected by VP Bank Group, <VPB.S>, to implement its proven risk management systems to support the bank's global operations.
VP Bank is implementing a new core banking platform at its headquarters in Liechtenstein to link up its subsidiaries around the world and support its international growth. Thomson Reuters will provide a key element of the new system with its implementation of Kondor+, its sophisticated front-end position keeping system, and Kondor Global Risk Management, which consolidates credit limit information and manages the data in real-time across all instrument types. In addition, Thomson Reuters will provide the system integration, linking Kondor+ to the new core banking platform.
Sönke Björn Vetsch, Chief Group Information Officer, VP Bank, outlined a few of the main benefits of the new software for the bank: "With Kondor+ and Kondor Global Risk, we will be able to support our centralised business functions with modern and well-established functionality. This will allow VP Bank to continue its international growth strategy."
"Thomson Reuters is committed to providing innovative risk solutions to the market and is pleased to have been entrusted by VP Bank on this critical project," said Andrew White, Global Head of Risk Management, Thomson Reuters.