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Fiserv targets Russia with Appreus partnership

18 May 2010  |  3155 views  |  0 Source: Fiserv

Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that it has entered into a partnership agreement with Appreus, LLC.

Under the agreement, Appreus will provide sales and project delivery support in Russia for the KRM market risk measurement and management solution from Fiserv.

"Appreus' deep local knowledge of the Russian financial services industry makes them an ideal partner as we expand our KRM footprint into the region," said Chuck Rowland, vice president and managing director of international sales and operations for Risk and Compliance Solutions, Fiserv.

Used to manage credit risk, interest-rate risk and market risk, KRM incorporates advanced risk concepts developed by Robert A. Jarrow, an originator of the Heath-Jarrow-Morton multi-factor term structure model. KRM helps financial institutions measure market exposures to determine limit compliance, develop risk mitigation strategies, allocate regulatory capital and evaluate market returns.

Part of the core competency in risk and compliance, Fiserv's market risk solutions are part of a fully integrated risk management solution. Financial institutions can combine market risk assessment with credit risk, liquidity risk, and asset/liability management capabilities to help measure market and other risks and to comply with regulatory requirements, including Basel II and IAS 39. The integration allows correlations between risk factors to be taken into consideration and the evolution of risk factors modeled through the economic cycle.

"In Russia, competition among providers of financial services technologies solutions is very serious right now," said Yuriy V. Alekseyev, managing director of Appreus, LLC. "Only the company that concentrates on more than software sales can be the market winner. Becoming a market leader means delivering software and technology as well as the full range of implementation services including change management. We don?t consider our role to be a sales agent, but to be a solution delivery partner supporting unique KRM product expansion."

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