Builds on previously implemented Market Risk Solution from QuIC
QuIC Financial Technologies, a market leading provider of risk management, pricing and financial analytics, today announced the implementation of their Counterparty Credit Risk Solution at EBRD (European Bank for Reconstruction and Development).
“Our aim is to help EBRD achieve their strategic goals and through partnership, our team continues to raise the bar for speed, flexibility and performance. The most recent results not only reinforce that our solutions exceed industry standards but also offers our clients new sources of competitiveness,” stated Justin Forrest, Executive Vice President of Global Sales for QuIC. “We are extremely pleased to continue to deliver at EBRD.”
This implementation builds on the previously installed Market Risk Solution and extends EBRD’s strategic risk systems architecture to include the calculation of unconditional credit exposure measures across Banking and Treasury products. This includes the integration of additional data sources to the QuIC Engine, the extension of additional configuration of the QuIC Engine to calculate unconditional credit exposure measures and incorporation of the QuIC Engine with SAP for the purpose of credit limit controlling.
Using QuIC, EBRD is able to use consistent methodology for measuring credit exposure across Banking and Treasury products in addition to providing a single Obligor exposure measurement system, delivering VaR, PFE and Credit VaR calculations across the Banking and Treasury portfolios of complex instruments.
As part of today’s announcement, QuIC revealed additional details resulting from its implementation with EBRD. In line with the open, adaptable nature of its solution, QuIC’s team has generated a number of new instruments along with updates to existing instruments that will have positive impact for its client base.
The next phase of the project at EBRD will involve using QuIC solutions to support EBRD’s Economic Capital Policy, delivering a credit portfolio risk measurement framework throughout the organisation.
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