21 October 2017
visit www.response.ncr.com

Taiwan's First Commercial Bank selects Algorithmics risk technology

28 October 2009  |  1386 views  |  0 Source: Algorithmics

Algorithmics announced today that the First Commercial Bank (FCB), a leading tier one Taiwanese bank, has chosen Algorithmics' integrated risk solutions to help with Basel II compliance and for counterparty credit risk management and credit limits monitoring.

FCB will be implementing Algorithmics' integrated and enterprise wide risk management solutions Algo Market Analytics, Algo Credit Exposure and Algo Credit Limits. The implementation will be supported locally by APFC, a risk management consultancy in Taiwan and an Algorithmics partner in the region.

FCB, said: "We had two clear objectives to consider in selecting our solution partner for this important project - we needed to comply with Basel II rules for market risk and counterparty credit risk and we needed to be able to calculate risk in an integrated way to provide consistent risk metrics. We chose APFC for their risk management expertise and Algorithmics' software because it is proven to be robust and for its comprehensive product coverage. In addition, we were impressed by Algorithmics' and APFC's reference sites in Taiwan and their experienced service consultants.

"At a time when credit risk management is so important, Algorithmics' credit limits solution, Algo Credit Limits, will give us the ability to access immediately our consolidated exposure information so that we can set and manage credit limits across FCB. Its functionality will provide our senior management with a well-managed control environment within which we can grow our business volumes."

Mina Wallace, Executive Vice President, Global Services and Support, Algorithmics, added: "We are delighted to be working with FCB and APFC in Taiwan to deliver a risk system that will go beyond FCB's compliance requirements. This implementation will provide FCB with an extensive range of simulation based risk measures such as VaR and scenario-based profit and loss estimates that will help the bank become a regional benchmark for enterprise risk management. We welcome FCB to the Algorithmics risk community and look forward to continuing to grow our presence in Taiwan."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register now visit www.innotribe.com

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
8666 views comments | 21 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8597 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7694 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7153 views comments | 10 tweets | 22 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
6764 views comments | 14 tweets | 23 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job