Algorithmics, the world's leading provider of risk solutions, announced today that Shin Kong Financial Holding Co Ltd, (SKFH) the Taiwanese financial services group, has gone live with Algorithmics' market risk solution for enterprise risk management across the whole group. SKFH has subsidiaries spanning insurance and banking, including SK Life Insurance, SK Commercial Bank and SK Investment Trust.
SKFH has implemented Algo Market Analytics across all its asset classes including FX, equity, bonds, and credit derivatives and is using the system to support risk analytics and improved risk control across the group.
SKFH's CRO, Dr. Grace Chu, said: "We are extremely pleased with the implementation of Algorithmics' market risk solution. The project was completed on time with an experienced local team. The solution meets our strategic risk objectives for both the short and long term, and provides a robust set of risk control functions that enables enhanced decision making across all our subsidiaries."
Mina Wallace, Algorithmics' Executive Vice President for Global Services and Asia Pacific, added: "We congratulate SKFH on going live with Algo Market Analytics. We have worked closely with SKFH to implement a solution specific to their unique needs and to ensure that enterprise-wide risk management is a market differentiator for SKFH. We welcome SKFH to our client base in Taiwan and are pleased to continue to grow our presence in this important market."