One bank in Asia that has implemented Insight Risk Intelligence functionality is Techcombank, the third largest private commercial bank in Vietnam, which deployed the suiteâs market analytics module to support the bankâs market risk management and treasury portfolio requirements. A long standing T24 user, Techcombank recognized the value of investing in additional banking solutions to drive innovation and has increased its use of Temenos software since 2003 to take advantage of new offerings like Insight Risk Intelligence.
âWith this new module, we have extensive analytical capability via a wider range of tools including a VaR (value at risk) engine, yield curve modeling and pricing tools. Its powerful reporting engine enables us to navigate data to the lowest level of granularity which has significantly improved our reporting capability. We now have global standard calculation models in place for the first time and we can enjoy greater visibility of underlying portfolio risk, effectively manage market risk and allocate our capital to the most rewarding activities. As the module is directly interfaced with TEMENOS T24 (T24), this has substantially improved data integrity and our level of confidence in reports that we produceâ, commented Mr Minh, Director, Center for IT Project Management, Business Analysis and Consultancy - IT Division, Techcombank.
In the Middle East, Silkbank, a leading corporate bank in Pakistan is implementing the suiteâs regulatory capital and market analytics modules. Temenosâ local integration partner NDCTech is implementing the software. As an easy to deploy, out of the box solution, Temenos partners will play a central role in supporting implementations of Insight Risk Intelligence in line with the companyâs strategy to maintain a robust partner eco system that underpins its global delivery model.
Javed Yousuf Edhi, CIO, Silkbank commented: âTo comply with the Pakistan Basel II central bank returns, we have to automate our reporting processes. In the face of tougher regulation, no one is going to be able to effectively comply under a manual reporting framework, which is high risk and low efficiency. With Temenosâ regulatory capital module, we will have out of the box reports which fully support all Basel II reporting requirements. We will have a raft of advanced credit, market and operational risk management capabilities to analyse exposures and accurately calculate regulatory capital to meet full Basel II compliance, as well as assist us in the journey to Basel III complianceâ.
Other banks that have chosen Insight Risk Intelligence as their risk management platform of choice include USB Bank in Cyprus, CAL Bank in Ghana, Military Bank in Vietnam and Banco Fichosa in Honduras.
Shawn Doumy, Product Director, Insight Risk Intelligence, Temenos, concludes: âRecent Temenos research among 190 banking executives revealed that regulatory reporting is the top risk related priority for banks globally. The second risk priority particularly for tier 1 and 2 retail banks is to implement an enterprise-wide risk management solution.* These results support our view that with competition intensifying, data volumes exploding and risk management moving to the forefront, developing a robust capability to manage information is no longer a nice-to-have. The strong take up of Insight Risk Intelligence not only shows that banks across the world share this priority, but that our solution meets the global demand for a functionally rich and fully integrated risk management toolkitâ.