HONOLULU, March 20, 2002-- Honolulu-based Kamakura Corporation announced today that Commonwealth Bank of Australia has licensed, through its technology partner EDS Australia, the Kamakura Risk Manager (KRM) Transfer Pricing Suite. The KRM Transfer Pricing Suite will provide a core component of the Bank’s risk and performance management framework.
KRM is the world’s first software solution that enables organisations to completely integrate the measurement of all of their financial risks. This is a pivotal capability for any organization looking to proactively manage their portfolio and to embed risk measurement within strategy selection decisions and performance management. KRM solutions have now been purchased by two of the four largest banks in Australia and by major banks, insurance companies and securities firms across eight countries.
"Kamakura’s fully integrated solution, analytical excellence, and depth of practical experience were key factors in our selection of KRM" said Steven Carritt, Head of Asset and Liability Management at Commonwealth Bank. "Kamakura’s management team has been involved in risk and performance measurement for almost 30 years and that gives us great confidence in both the quality of the KRM solution and its’ continuous innovation."
"We are honored to work with the Commonwealth Bank which is a leader in the Australian banking, insurance, and wealth management industries" said Dr. Donald R. van Deventer, President and Chief Executive Officer of Kamakura Corporation. "Our joint efforts will assist the Bank to see the contributions of each business to shareholder value with great clarity."