Fermat Pte Ltd, a leading independent provider of risk and performance management solutions to the global banking industry today announced that Taiwan’s top bank, Chinatrust Commercial Bank, will implement Fermat’s Basel II software solution. Chinatrust signed an agreement for the deployment of Fermat CAD (Capital Adequacy Directive), Fermat’s Basel II compliance solution. Chinatrust will implement all three approaches for calculating capital requirements - the standardized approach (SA), the internal rating-based foundation approach (IRBF) and the internal rating based advanced approach (IRBA).
“Chinatrust’s choice of Fermat serves as a fine illustration of how we have developed the top Chinese-language Basel II solution available in the market. By endorsing Fermat software, Chinatrust again demonstrates its leadership in moving forward toward Basel II compliance, serving as an example to other regional players in Greater China who are swiftly moving ahead on their timetables,” said Gilbert Gagnaire, Co-Founder of Fermat.
Chinatrust’s Vice President for the Credit Strategic Planning Department, Katty Hsu commented, “Fermat has established itself as the vendor of choice in the Asia Pacific Region. We look forward to working with the Fermat team in strengthening our credit risk management systems.”
Chinatrust has recorded a long list of accolades in recent years, including being named Taiwan’s best bank, investment bank and equity house by FinanceAsia, best domestic bank by Asiamoney, best domestic private bank by Euromoney and a top 10 Asian bank by Asia Risk in 2006.
Fermat was recently voted the overall global #1 Basel II solution vendor by readers of RISK Magazine. Fermat has 17 Basel II banking clients in Asia Pacific and 70 Basel II banking clients globally.