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Acrys Consult supports market standard solution for Operational Risk

Frankfurt, November 7th 2002.

Acrys Consult is adapting its business model for consulting services within the Operational Risk sector. At the EBTF European Banking Technology Fair in Frankfurt from 29.-31.10.2002 we were announcing our recommendation for the software solution VÖB-ORC. This solution was developed by the project group "Measurement & Controlling of Operational Risks" in the "VÖB Bundesverband öffentlicher Banken Deutschlands" (Association of German Public Sector Banks), Berlin, and interexa AG, Wiesbaden. The decision made by the VÖB, and in the meantime also by the "Deutsche Sparkassen- und Giroverband DSGV" (German Savings Banks and Giro Association), to recommend this methodologically and technically extremely flexible solution to their members, supports the excellent chance that this software might evolve into a market standard.

In coordination with the VÖB, Acrys Consult has published a mutual brochure with interexa AG, which could be obtained at the EBTF for the first time. As of the end of November 2002, Acrys Consult will operate as a consulting partner certified by the Landesbank Rheinland-Pfalz for VÖB-ORC to the finance industry. In addition to the pure technical installation of the software, credit institutions require support for example in developing a questionnaire for the self assessment, for authorization concepts analog to the company organization structure, the implementation of the complete monitoring process and the drafting of a respective policy. Based on experience gathered over the past 18 months, Acrys Consult is the competent consulting partner for these tasks and for the implementation of a profound Operational Risk Management. Apart from VÖB-ORC, Acrys also uses its know-how to support institutions which have decided upon other solutions.