"Implementation was fast and easy because Almonde provided us with a clear roadmap and the right technological approach," says Mr. Francois Coudert, Socredo's Head of Risk and Finance. "Without Almonde's technology, implementation would have been very difficult." "In addition, we're leveraging our Basel II investments by using Almonde to improve our risk management and product pricing."

David Berchoux, Basel II project head at Unilog, Almonde's integration partner at Socredo, says that "the flexibility of Almonde's data model makes integration with the banks information systems easier. Further, Almonde is more than just a Risk-Weighted Asset calculator; the solution includes Basel II reporting and flexible simulation tools for stress-testing and back-testing".

Socredo purchased Almonde Basel II in July 2003 for calculating regulatory capital using the IRBAdvanced approach for their Retail customers and, for their SME customers, the IRB foundation approach. Also, Socredo is currently running the Almonde Basel II solution for IRB Scoring and Rating.

"Socredo is proof that banks can meet Basel II requirements effectively while under tight time constraints," says Shawn McMorran, Almonde's CEO. "Our robust but flexible approach speeds Basel II implementation while providing a path to better risk management."

Currently, Socredo also runs Almonde Asset Liability Management and Almonde Funds Transfer Pricing solutions. They now are reaping the benefits of an using an integrated solution for risk management and profitability analysis.