Zurich (PRWEB) August 30, 2007
Bank Pocztowy, a subsidiary of the State savings bank PKO BP, has signed for riskpro ™ Market Risk and ALM. The scope of the project will include Basel II Standard approach in a later stage.
The Postal bank, which caters to small, village clients providing simple banking products, chose riskpro™ over other competitors because of the ease of use and flexibility of the software. "We required a tool that could help us to efficiently solve our issues in a cost efficient manner, and we didn't want to spend a long time learning to program complex scenarios. riskpro™ has fulfilled our expectations in this and many more aspects" said Katarzyna Dresler, project lead of the riskpro™ implementation.
riskpro™ is currently being implemented at the bank by IRIS' local partner in Poland, Bazy i Systemy Bankowe. In a second phase of the project Bank Pocztowy will also use riskpro™ to address the bank's needs in the areas of IFRS and Impairment.
"It is an honor for us to serve Polish Post Bank besides the German Post Bank and the earlier Austrian Post Bank. Once again riskpro™'s qualities for analysis and simulation of large retail operations are confirmed", expressed Andreas Jaek, Head of IRIS Sales & Marketing.
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 20 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. Delivery, implementation and consulting are executed worldwide directly by IRIS AG and indirectly in cooperation with a number of local partners.
About Bank Pocztowy
Bank Pocztowy S.A., established in 1990, is owned by: PPUP Poczta Polska (Polish Post Office) (75% less one share) and Bank PKO BP S.A. (25% plus one share). It differs from other financial institutions because it allows customers to take advantage of various financial services at their local post office. Poczta Polska operates from 8,000 offices. The rich range of services provides products for individual customers, as well as mass payment wholesales. The Bank, in association with Poczta Polska, offers to small businesses a system for settling health/retirement insurance and tax payments. Over half a million of small businesses use their "Giro" account at the Post Office every month.
Bank Pocztowy is currently going through a phase of considerable change and rapid development. A centralised management information system has been implemented, which has been combined with a new sales network model. Together with Poczta Polska, Bank Pocztowy aims to create the largest sales network for financial services in Poland. Beginning in 2006, full service was started at 125 bank/post desks up and down the country. Within 3 years, it is intended to establish 3,000 of those.
For more information, contact:
IRIS marketing & sales support coordinator
+41 (0)44 388 59 59
info @ irisunified.com