riskpro™ offers a consistent view over different risk categories, activities and value and income perspectives. The deep experience of IRIS in banking ALM is a valuable asset when integrating the insurance side of the group.
Zurich (PRWEB) August 10, 2007
KBC Group, a leading European bank insurer, has selected IRIS integrated risk management's riskpro™ for its group wide Asset and Liability Management. This project covers all subsidiaries, first in the Euro zone and afterwards also in Central and Eastern Europe, and all risk segments, including insurance (by means of replicating portfolios).
KBC selected riskpro originally in 2001 and implemented the system for KBC Banking Belgium. For several years the system has been in productive use on a daily basis for Treasury and ALM.
Triggered by several factors such as the growth of the Group, by increased regulatory requirements, by increased needs for integration between banking and insurance ALM and economies of scale, KBC ran a very thorough software evaluation project throughout 2006. All risk systems in use within the group were screened. The evaluation covered systems from the banking, insurance and trading area. The functional decision for riskpro™ was taken end of 2006, the contract was signed in June 2007. Implementation has started already.
Marko Bolt, Head ALM Modeling and Architecture, commented: "A decisive factor was that we found we could reach our functional goals fastest with riskpro™. We have seen that we can model quickly a very diverse set of products and generate essential reports. The group has the option to move easily into new types of analysis, e.g. for sophisticated mortgage products."
Rik Janssen, General Manager ALM, Value & Capital Management concluded: "riskpro™ offers a consistent view over different risk categories, activities and value and income perspectives. The deep experience of IRIS in banking ALM is a valuable asset when integrating the insurance side of the group."
Kris Luyten, Senior Consultant at IRIS AG, commented: "riskpro™ is the perfect tool for a growing and ambitious bank. It allows a consistent view on risk across regional and business lines. In addition it offers real cost efficiencies as the user base grows."
riskpro™ enables financial organizations to measure and monitor risk and profitability enterprise-wide with a single cost effective integrated analysis infrastructure. riskpro™ covers ALM, market and credit risk analytics including Exposure Analysis, Value at Risk, Funds Transfer Pricing, Dynamic Simulation, Limits, Historization, Basel I and II, Risk-Adjusted Performance Analysis, Credit Exposure, Credit Loss, IFRS 39, etc. These analyses cover the banking and the trading book both on and off the balance sheet, for any type of financial products, from saving accounts to exotic options, for any type of accepted valuation method. The underlying universal contract-centric data model and calculation engine of riskpro™ ensures precision and consistency in all results. riskpro™ is so an ideal and easy way to implement Basel II as a first step for a cost effective integrated financial analysis infrastructure. It is recognized by customers and established consultants as the most integrated solution on the market.
riskpro™ is currently being used or in implementation in over 230 small to large financial organizations in 22 countries in the retail, wholesale and development field.
IRIS integrated risk management ag, formed in 1992 in Zurich, has its headquarters in Switzerland. It continuously develops, maintains and supports its riskpro™ financial analysis infrastructure out of Switzerland since 1997. Selling, implementation and consulting are executed worldwide directly by IRIS AG and indirectly in cooperation with a number of partners such as Accenture, ATOS, BSB, Intracom, among others.
KBC is headquartered in Brussels. With consolidated assets of €326 billion, KBC has 1100 retail bank branches and close to 50,000 employees. KBC is a leading European bank insurer with a strong position in retail, corporate & private banking, asset management and insurance. KBC has significant international operations, with the majority of its foreign holdings in Central & Eastern Europe.