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Fermat completes the successful implementation of Fermat CAD Basel II in five months at Bank of Ayudhya, Thailand

Fermat Private Limited, a leading independent provider of risk and performance management solutions to the global banking industry, today announced that it has successfully implemented Fermat’s CAD Basel II (RWA & Reporting) for Bank of Thailand (BoT) at Bank of Ayudhya Public Company Limited (BAY), in a record of five months, which is among the fastest implementations anywhere in Asia Pacific for a bank of this asset size.

Fermat Private Limited was commissioned by Bank of Ayudhya for the implementation of Fermat CAD (Capital Adequacy Directive), Fermat’s Basel II RWA calculation engine and BoT reporting tool this year. The project kicked off in August and the solution went live in December. BAY has also been licensed the IAS 39 solution from Fermat. This solution is closely integrated with the Basel II solution that is now in production.

“A successful implementation of Fermat’s Basel II puts BAY in a leadership position in moving towards regulatory compliance.’’ said Gilbert Gagnaire, Co-Founder of Fermat.

BAY is the fifth largest domestic commercial bank in Thailand with 567 branches throughout Thailand and three overseas branches in Hong Kong, Lao P.D.R and Cayman Islands.

Fermat was recently voted for a second year in a row the overall global #1 Basel II solution vendor by readers of RISK Magazine.