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EBRD Goes Live with Market Risk Solution from QuIC Financial Technologies

QuIC Financial Technologies Inc, a global solutions provider of risk management, pricing and financial analytics, has announced the European Bank for Reconstruction and Development (EBRD) has successfully gone live with the QuIC Market Risk Solution.

EBRD is implementing the QuIC Unified Market and Credit Risk Solution for the measurement of risk across banking and treasury products. EBRD will use QuIC to calculate VaR, PFE and Credit VaR. The flexible QuIC platform will be integrated with other systems at EBRD to provide limits and portfolio management and risk measurement analysis and reporting. To further optimise speed and performance, EBRD will utilise the Paremus Infiniflow service fabric.

“We appreciate the challenges facing banks in this current economic climate and are seeing an increased demand for risk management solutions, especially from banks looking to implement a unified market and credit risk solution,” stated Justin Forrest, Vice President, Business Development for QuIC.

“By implementing a unified solution banks not only realise technology synergies, but they also achieve significant cost savings by leveraging shared hardware, joint implementation costs, lower operational costs and common data platforms,” stated Tony Coppellotti, Chief Technology Officer for QuIC.

The QuIC Unified Market and Credit Risk Solution puts unparalleled calculation speed and flexibility in the hands of risk managers in both the market risk and credit risk departments. As well as lower TCO, institutions can benefit from more sophisticated modelling such as CVaR, Credit Adjusted Pricing and Risk, and lowering regulatory capital for both Market and Credit Risk simultaneously as part of the Basel 2 Internal Model Methods implementation.