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DePfa Group Buys Kamakura Risk Management Software Suite

HONOLULU, October 17, 2001-- Honolulu-based Kamakura Corporation announced today that DePfa Group has licensed the full Kamakura Risk Manager software suite, including its credit risk, market risk, net income simulator and transfer pricing software. DePfa Group is a specialist international financial institution that caters to public sector entities and the property sector. In 2002 DePfa Group will be split into two independent publicly listed companies to establish an even greater focus on its two specialties. DePfa joins financial institutions in Australia and Japan who have licensed the combined credit risk, market risk and asset and liability suite from Kamakura Corporation. Kamakura is the first vendor in the world to offer default probability estimation, credit-adjusted value at risk, net income simulation, and transfer pricing in a single fully-integrated software product. DePfa is the second major bank in Germany to license Kamakura Risk Manager software. Systems integration on the project is being done by IPS-Sendero, an affiliate of Fiserv (NASDAQ: FISV).

"We are extremely pleased to add DePfa Group as a Kamakura client," said Dr. Donald R. van Deventer, President and Chief Executive Officer of Kamakura Corporation."The sophistication of DePfa’s derivatives portfolio and our joint development regarding a Financial Accounting Standards Board Statement 133 module make this an especially important relationship for both companies. We are also very pleased to be working with IPS-Sendero on the implementation only three months after the announcement that IPS-Sendero will be distributing Kamakura software."