AIM Software launches Basel II module

Source: AIM Software

AIM Software, a leading provider of risk management and reference data management solutions to the financial industry, recently unveiled GAIN OpRisk+, a new module of the integrated GAIN Risk Management platform, that focuses on complying with the increased regulatory requirements of Basel II.

The GAIN platform now covers in a single package all risk assessment areas that financial institutions have to comply with and aims at reducing the potentially high integration costs and the interfacing risk between stand-alone risk management solutions.

In contrast to the OpRisk+ methodology, methods such as the Loss Distribution Approach (LDA) require a large amount of internal and external data sources such as specialized consortia, making the data collection process time consuming and therefore expensive. AIM Software's OpRisk+ processes internal operational loss data and concentrates on assessing the most frequent operational risks. Thereby, operational risk calculations can be covered in a fast, easy and cost-efficient way.

Nikolaj Tsenov, Senior Risk Analyst at AIM Software, states: "Our new OpRisk+ module can help banks to achieve lower amounts for their OpRisk+ required underlying capital. Banks began to implement operational risk management because in the first row they had to comply with regulatory requirements but, as they spend more time on it, they also start to see the advantages of the model itself."

AIM Software's financial analysis platform GAIN is linked to 15+ of the world's major data feeds. Based on the proven functionality of processing data from various sources, GAIN OpRisk+ helps financial institutions to face the challenges and hurdles in implementing the requirements for operational risk management efficiently and targets a fast integration.

"Given the fact that GAIN Risk Management provides a balanced blend between market risk, credit risk and operational risk, this new version can even be used by small and medium sized banks. We are committed to developing standardised and easy to use software that offers banks compliance with the Basel II requirements in a very short period of time," Tsenov concludes.

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