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Algorithmics upgrades regulatory capital software

02 June 2009  |  1735 views  |  0 Source: Algorithmics

Algorithmics announced today that the latest release of its regulatory credit capital software for Basel II, Algo Credit Regulatory Capital version 4.6, has significantly reduced the processing time of its clients' capital calculations so that they can now produce daily risk reporting, with one client achieving a 600% improvement in performance.

Algorithmics reported that a major European bank, having recently gone live with the software, has experienced performance gains of 600% and reduced total cost of ownership. The software is designed to support financial institutions experiencing substantial growth in data volumes and risk reporting requirements, for example, as a result of merger activity or in response to recent market events.

Jivantha Mendis, Senior Director, Capital Analytics at Algorithmics said: "Our latest release of Algo Credit Regulatory Capital is exceeding our clients' performance, volume processing and frequency of capital reporting requirements. The results experienced to date are truly market leading. Our streamlining of Algo Credit Regulatory Capital is a major milestone in our drive to reduce total cost of ownership for our clients through better performance, lower hardware and maintenance costs, faster implementation and shorter batch windows."

Michael Zerbs, President and COO of Algorithmics, added: "For Algorithmics, the capability to deliver such a strong performance improvement to our clients is validation that our focus on innovation and on investment in developing leading edge risk management solutions is the right one for us and for our clients. We will continue to invest in research and development to ensure we provide risk solutions that help our clients make more informed, risk-aware business decisions."

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