London, 25th March 2002. Misys International Banking Systems (Misys-IBS) has recorded another success for Risk Vision, the company’s enterprise-wide Risk Management solution, this time at DGZ·DekaBank, one of Germany’s leading financial institutions, based in Frankfurt. The bank, whose business focuses predominantly on the provision of wholesale banking and fund management services, maintains international branches in Luxembourg, Zurich and Dublin. Risk Vision, which is planned to be operational during the first quarter of 2003, will initially be installed at DGZ·DekaBank's Headquarters in Frankfurt.
DGZ·DekaBank was created following the merger between Deutsche Girozentrale-Deutsche Kommunalbank and DekaBank GmbH in 1999 when the bank adopted its current name. DGZ·DekaBank, which is owned by several public sector banks (Landesbanken and Sparkassen) across Germany, functions as the central provider for the organisation. Through this network of public sector banks, the bank has grown to become one of the leading providers of wholesale banking products in Germany. DGZ·DekaBank has also been exceptionally successful in expanding its fund management services in the last few years and is now acknowledged as being the second largest fund management institution in the German market with total assets of 133 billion Euro under management.
Having implemented a system to monitor and control its market risk, the bank then took the decision to search for a credit risk limit and exposure management solution. A spokesman for DGZ·DekaBank explains, "Ideally, we wanted a solution that would complement our existing investment in risk management technology, optimise our allocation of capital and enhance the bank’s management of credit limits and exposure." Accordingly, between February and November 2001, the bank undertook an extensive survey of the packages available, and initially reviewed around 30 different systems. These were quickly reduced to a shortlist of just 5 solutions, including Misys’ Risk Vision, for more detailed analysis.
DGZ·DekaBank opted to license Risk Vision as its preferred choice of solution to support the bank’s credit risk limit and exposure management function, signing the contract at the end of November 2001. The bank’s spokesman comments, "Our choice of Risk Vision was based on the fact that the system provided cutting-edge functionality for credit risk management in the trading and lending businesses areas. In addition, Misys is an international company with a global reputation, as well as offering personal service and support through its local office in Frankfurt. We were also impressed with the performance, both of the company’s staff and its Risk Vision product during the evaluation process."