23 January 2018
visit www.ebaday.com

Taiwan's First Commercial Bank selects Algorithmics risk technology

28 October 2009  |  1401 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)
visit www.fivedegrees.nlvisit www.niceactimize.comvisit www.ebaday.com

Top topics

Most viewed Most shared
Banks shift priorities toward growth, digitisation and innovation - surveyBanks shift priorities toward growth, digi...
9516 views comments | 38 tweets | 48 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
9278 views comments | 14 tweets | 14 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
9025 views comments | 12 tweets | 12 linkedin
Sbanken opens developer portal and invites customers to build their own digital bankSbanken opens developer portal and invites...
8383 views comments | 17 tweets | 11 linkedin
Metro Bank joins digital revolution with instant online account openingMetro Bank joins digital revolution with i...
6970 views comments | 13 tweets | 25 linkedin

Featured job

London, UK (or flexible)

Find your next job