Almonde and Misys Risk Management Systems launch market’s first Basel II solution for UK building societies
London, 15 June 2004 - Almonde (UK) Ltd and Misys Risk Management Systems, providers of enterprise risk management solutions, today announced the release of a specialised Basel II solution for building societies in the UK.
The Basel II package solution, the first in the market tailored exclusively to address the specific challenges faced by UK building societies, provides turnkey software, consulting services and on-going support for meeting the information management demands of the forthcoming accord.
With an entry-level price of £200,000, the solution draws on the combined expertise of two industry leaders to assist UK building societies in achieving Basel II regulatory compliance.
Shawn McMorran, Almonde’s CEO, comments, “The depth of Misys’ understanding of UK financial institutions and their local presence will enable us to better serve long-term compliance and economic risk requirements into the future.”
The Basel II solution generates Risk-Weighted Assets (RWA) and Regulatory Capital using the Standardized, Foundation and Advanced Internal-Ratings Based (IRB) approaches, including Expected Losses (EL) under the IRB approaches. It provides complete banking book and extensive trading book coverage and handles credit risk mitigation techniques such as collateral partitioning, guarantee structure management and mismatches on maturity and currency.
Integrated Scoring, Rating, Probability of Default (PD) and Loss Given Default (LGD) models are also available as add-ons. For the IRB Advanced approach, Exposure at Default (EAD) can be calculated on balance sheet and off-balance sheet exposures.
Through its process management capabilities, the specialised solution provides automation, structure and security features for making regulatory compliance easier and more auditable. The Data Store collects and maintains uploaded and calculated data historicals. Complete Basel II reports are provided and raw results are easily accessible for export downstream to reporting tools. The system is designed to incorporate on-going regulatory changes and national discretions.
The solution equips building societies to meet the demands of the Supervisory Review Process (the “second pillar” in Basel II). Regulatory capital amounts are justified through comprehensive model validation approaches that include back-testing, stress-testing, sensitivity analysis, scenario analysis and audit-trails.
Michel van Leeuwen, Chief Executive Officer, Misys Risk Management Systems, comments, “The Basel II solution includes unparalleled functional coverage, based on a robust data management platform, and provides building societies with a sound foundation for calculating economic capital.”
For further information, please contact:
Shamira Alidina / Adelaide Harrison
Write Image
+44 (0)20 7959 5400
Shamira@write-image.co.uk / Adelaide.Harrison@write-image.co.uk
Write Image
+44 (0)20 7959 5400
Shamira@write-image.co.uk / Adelaide.Harrison@write-image.co.uk
OR
Ewen Cameron
Misys Risk Management Systems
+44 (0)20 8486 1810
About Misys Risk Management Systems
Misys Risk Management Systems, part of the Banking and Securities Division of Misys plc, is focused exclusively on the provision of enterprise wide, integrated risk management solutions. For over a decade, the company has specialised in driving the world’s leading financial institutions towards value creation, delivering functionally rich and highly flexible solutions that encompass all aspects of global, integrated risk management and regulatory compliance.
Misys Risk Management Systems, part of the Banking and Securities Division of Misys plc, is focused exclusively on the provision of enterprise wide, integrated risk management solutions. For over a decade, the company has specialised in driving the world’s leading financial institutions towards value creation, delivering functionally rich and highly flexible solutions that encompass all aspects of global, integrated risk management and regulatory compliance.
About Risk Vision
Risk Vision is a highly integrated and functionally advanced risk solution, delivering proven measurement of all areas of exposure and risk and supporting modern portfolio management practices. A uniquely flexible solution, Risk Vision is focused on supporting value management and regulatory compliance within a global financial institution through accurate, real time identification, measurement and control of exposure and capital.
Risk Vision is a highly integrated and functionally advanced risk solution, delivering proven measurement of all areas of exposure and risk and supporting modern portfolio management practices. A uniquely flexible solution, Risk Vision is focused on supporting value management and regulatory compliance within a global financial institution through accurate, real time identification, measurement and control of exposure and capital.
About Misys plc
Misys plc, the global software products and solutions company, serves customers in the international banking and securities, international healthcare, and UK retail financial services sectors. The group partners with its customers to deliver outstanding IT solutions to essential industries. For the year ended May 31, 2003, Misys reported revenues in excess of $1.5 billion. Misys employs more than 6,000 people internationally.
Misys plc, the global software products and solutions company, serves customers in the international banking and securities, international healthcare, and UK retail financial services sectors. The group partners with its customers to deliver outstanding IT solutions to essential industries. For the year ended May 31, 2003, Misys reported revenues in excess of $1.5 billion. Misys employs more than 6,000 people internationally.
About Almonde
Almonde, based in London and Paris, provides banks with regulatory and best practice risk management software solutions that leverage the most recent, robust and open technology. Almonde offers Basel II, ALM, IAS and FTP software solutions for banks. Almonde’s Basel II solution enables bank to achieve full Pillar 1, 2 and 3 coverage by providing Credit, Operational, Market and Interest Rate (ALM) Risk analytics; Advanced analysis (such as Stress-testing, Scenario analysis and back-testing); Data warehouse; and Reporting.
Almonde, based in London and Paris, provides banks with regulatory and best practice risk management software solutions that leverage the most recent, robust and open technology. Almonde offers Basel II, ALM, IAS and FTP software solutions for banks. Almonde’s Basel II solution enables bank to achieve full Pillar 1, 2 and 3 coverage by providing Credit, Operational, Market and Interest Rate (ALM) Risk analytics; Advanced analysis (such as Stress-testing, Scenario analysis and back-testing); Data warehouse; and Reporting.
