Celent Awards Alfa-Bank and Misys for Basel compliance project

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Single platform increases transparency and enhances risk visibility.

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"Misys FusionRisk has enabled us to make faster and more informed business decisions on behalf of our clients" - Martin Pilecky, CIO, Alfa-Bank.

Misys has been recognised for the second time in this year’s Celent Model Bank Awards, for its work with Alfa-Bank, Russia’s largest private commercial bank. Both are awarded in the security, fraud and risk management category.

Looking to implement Basel II and III standards under very tight local regulatory deadlines, Alfa-Bank selected Misys FusionRisk to achieve this goal. Misys was able to implement a central default system with a Basel-compliant risk rating and risk-weighted asset calculations engine within a challenging timeframe. FusionRisk increases overall transparency and provides enhanced risk visibility through a single integrated digital platform.

Russian banks are facing stringent and increasingly complex regulations for capital planning, while managing in a fluctuating economic and market environment. The timeline in which banks are expected to implement Basel II and III is exceptional and has meant that banks have to comply with Basel II’s advanced measurement approach and Basel III requirements simultaneously.

Alfa-Bank saw the opportunity to not only comply with these regulations, but to add value to its existing risk management capabilities across the enterprise. The implementation of FusionRisk encourages a stronger second line of defence and independent ownership of processes and controls. Before the project with Misys began, the bank had relied on 27 different controlling processes across different functions for managing corporate loans. The initiative has streamlined its corporate credit risk and default risk processes and controls.

“We’re very pleased to have been selected by Celent in this year’s Celent Bank Model awards,” said Martin Pilecky, CIO, Alfa-Bank. “Misys FusionRisk has enabled us to make faster and more informed business decisions on behalf of our clients. The Misys team partnered very closely with our own to deliver a fluid, comprehensive and fast-moving project which has made Alfa-Bank fully Basel II and III compliant, without having to compromise on risk visibility, making sure we are best equipped to respond to market and regulatory challenges.”

“The ever-changing regulatory landscape is a tricky one for banks to navigate when it comes to operations,” said Simon Paris, President, Misys. “This award-winning project has ensured that Alfa-Bank is not only able to comply with these specific pressing regulations but will also gain a comprehensive and integrated view of risk. It will have the insight needed to compete more effectively while not compromising on compliance – a testament to the capabilities of a single digital platform.”

Working with local implementation partner Cinimex, Misys and Alfa-Bank collaborated seamlessly throughout the project to ensure that there was a tight-knit cooperation between the teams. This was crucial given the extent of customisation required for the Russian market and regulatory pressures.

Celent’s program recognises excellence in banking technology in helping financial institutions improve performance and meet market demands. It assesses technologies and technology projects across seven categories, with the security, fraud, and risk management category including enterprise risk management transformation, financial crime risk management and cyber security.


For further information please contact:
Caroline Duff
Senior PR Manager
T: +44 (0)20 3320 5892 E: caroline.duff(at)misys(dot)com

About Misys
Misys is at the forefront of the financial software industry, providing the broadest portfolio of banking, capital markets, investment management and risk solutions available on the market. With more than 2,000 customers in 130 countries our team of domain experts, combined with our partner eco-system, have an unparalleled ability to address industry requirements at both a global and local level. We connect systems, collect data and create intelligent information to drive smarter business decisions. To learn more about how our Fusion software portfolio can deliver a holistic view of your operations, and help you to solve your most complex challenges, please visit http://www.misys.com and follow @MisysFS on Twitter.

About Alfa-Bank
Founded in 1990, Alfa-Bank is one of the largest private banks in Russia, which offers a wide range of products and operates in all sectors of the financial market, including interbank, corporate and retail lending, deposits, payment and account services, foreign exchange operations, cash handling services, investment banking, and trade finance, as well as other ancillary services to corporate and retail customers.

According to its auditor reviewed IFRS financial statements for 2015, the Alfa Banking Group, which comprises Joint Stock Company Alfa-Bank as well as its subsidiary financial companies, had total assets of $31.5 bn, gross loans of $21.7 bn, and total equity of $4.3 bn. Net profit after tax for 2015 amounted to $480 mln.

As of December 31, 2015 the Alfa Banking Group serves around 255,000 corporate customers and 13.6 mln individuals (including 1.9 mln individual customers of PJSC “Baltiyskiy Bank”), while the branch network consists of 745 offices across Russia and abroad, including a subsidiary bank in the Netherlands and financial subsidiaries in the United Kingdom and Cyprus.

For further information about Alfa-Bank please contact:
Zhanna Kaplun
Press Secretary
T: +7 495 788 69 80     e-mail: zkaplun(at)alfabank(dot)ru

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