IDFC develops risk management capability for the future with ALM solution from Misys Banking Systems
London , 21st December 2005- Misys Banking Systems is pleased to announce that IDFC, one of the leading financial institutions in India providing infrastructure financing and advisory services, has selected Misys Asset Liability Management (ALM) solution to support its growing needs of interest and liquidity risk management.
IDFC's mission is to be the financier and advisor of choice for infrastructure in India. Its long-term success depends on a robust Asset Liability Management system to strengthen its balance sheet, manage the risks arising from interest rate movements and liquidity as well as help in business planning and decision-making processes.
Misys ALM will enable IDFC make accurate and reliable decisions through sophisticated statistical analysis, well managed, auditable quality data and insightful business, economic and behavioral scenario analysis.
“We are in a continuous process of building up a high class risk management system, suited to the management of sophisticated products and have found Misys to be a suitable partner in this endeavour. We hope this will be a rewarding experience for both of us.” says L. K. Narayan, Executive Director – Finance, IDFC.
"We are delighted that our first Risk Management customer in India is such a prestigious organisation. We understand that high-end risk management is critical to IDFC's future. We will not only provide the bank with powerful ALM capabilities but build a long-term partnership to provide relevant sophisticated risk analytics, Basel II compliance, IAS accounting norms and Risk-Return analysis." says Michel van Leeuwen, Risk Management CEO, Misys Banking Systems.
The Misys ALM platform, built on a modular approach and common data model, can be extended to support Basel II requirements, Funds Transfer Pricing mechanism which can then act as a base for risk-adjusted performance management (RAPM) and IAS 32/39 reporting.
For further press information, please contact:Caroline Parker/Alex Jacob
Financial Dynamics
+44 (0) 207 269 7295
Financial Dynamics
+44 (0) 207 269 7295
Edward Taylor
Global Head of Public Relations
Misys Banking Systems
0208 486 1661edward.taylor@misys.com
Global Head of Public Relations
Misys Banking Systems
0208 486 1661edward.taylor@misys.com
About Misys Banking SystemsMisys Banking Systems supplies over 1,200 customers in over 120 countries, among them 49 of the world's top 50 banks, with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,600 people around the world, over 70% of whom are outside of the United Kingdom, and sales, implementation and customer support teams in over 28 countries. Misys Banking Systems is part of Misys plc.
About Misys plcMisys plc (FTSE: MSY), the global software company, is one of the world’s largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries and the UK general insurance industry, combining technological expertise with in-depth understanding of customers’ markets and operational needs. In banking Misys is one of the top four software providers worldwide and the largest outside the US, with over 1,200 customers, including 49 of the world’s top 50 banks. In healthcare Misys is a top five software provider in the US market, serving more than 92,000 physicians in 18,000 practice locations, 1,250 hospitals and 600 home care providers. In UK general insurance Misys is the market leader in software solutions. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to about 7,800 financial advisers in the UK. Misys employs over 6,500 people who serve customers in more than 120 countries. For more information, visit www.misys.com
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