TORONTO, CANADA / BERLIN, GERMANY – September 30, 2003 – Algorithmics Incorporated, a world leader in enterprise risk management solutions, today announced that Bankgesellschaft Berlin, a major German banking group, has gone live with Algo Credit for enterprise-wide supervision and control of its credit risk requirements.

"Our strategy to take a centralized approach to risk management is supported by Algorithmics solutions," remarked Dr. Christian Burmester of Bankgesellschaft Berlin. "We are now empowered through a complete, consolidated view of our commercial credit exposure across our group, including risk controlling and reporting of counterparty exposures".

Algo Credit's proven limits and exposure functionality provides a consistent, integrated framework for managing credit risk across the enterprise, covering global limits and counterparty exposures for both trading and banking book products. At Bankgesellschaft Berlin, credit portfolio management across the group through Algo Credit now includes:

- Single view of credit takers (obligors) for the bank and its subsidiaries;
- Single view of products (from derivatives to mortgages);
- Single view of all subsidiaries;
- Risk-oriented segmentation of credit business (Portfolio Management), assessed, limited and controlled with Algo Credit Limits functionality.

"Algo Credit’s proven, single data architecture provides Bankgesellschaft Berlin a comprehensive firm-wide view of their credit risk, and gives them the option to expand their risk management initiatives across other business lines in future," said Michael Zerbs, Chief Operating Officer at Algorithmics. "This is a critical perspective and business benefit to build shareholder value in today’s challenging markets."

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