EBS Building Society tackles Basel II with Misys

LONDON, 28th September 2005 – Misys Banking Systems today announced that EBS Building Society has selected the Misys Basel II solution, following a competitive tender with all major risk vendors. The new system will help the bank comply with new regulatory requirements and build a strong framework for the efficient management of economic capital.

The new integrated system, to be implemented immediately, will enable EBS Building Society to gain a clearer insight into the effect of outlying risk scenarios and the impact of any new business. The Misys Basel II system brings three specific benefits: fast implementation, consistent results across of the bank’s total risk management and the ability to meet the core regulatory requirements.

EBS Building Society will deploy the system at their Head Office, covering every business line and all of its 50 business outlets throughout Ireland. For the bulk of the business lines, the Bank will be applying the Advanced IRB approach for Basel II.

Fidelma Clarke, Head of Credit Policy and Risk at EBS Building Society comments, "We are aiming to achieve Basel II accreditation with the Misys solution, as well as using the system for forecasting and running stress tests and economic scenarios".

"EBS chose Misys because they showed the best knowledge on Basel II, offered a strong solution and could demonstrate real implementation experience."

Michel van Leeuwen, CEO, Risk Management, Misys Banking Systems explains, "This partnership reflects the strength of our Basel II expertise, a critical part of our strategy towards being recognised as the world’s leading Enterprise Risk Management solution provider."

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