A year-end comparison of Algorithmics' client base with the "The Top 1000 World Banks" survey published by The Banker (July Vol. 153 No. 929), revealed significant international acceptance of Algo Suite, Algorithmics' suite of enterprise risk management solutions.
Algorithmics' client roster includes:
- 9 out of the top 10 banks worldwide;
- 17 out of top 25 banks in Central and Western Europe;
- 10 out of top 25 banks in North America.
Algorithmics signed 15 new clients in 2003. Among those clients announced as new clients or continuing their existing relationship with Algorithmics to help measure and manage their risk included: HSBC, Royal Bank of Scotland, Commerzbank, Fleet Boston Financial, HBOS, Erste Bank, SociÃ©tÃ© GÃ©nÃ©rale Group, Robeco, ABN Amro, Danske Bank, Helaba, Abbey National Treasury, PKO Bank Polski, CBLC, Robeco, Banorte, Bankgesellschaft Berlin, Bank of Ireland, and Standard Bank.
Algorithmics grew its credit and collateral clients substantially last year, making it the current world leader in market, credit and collateral enterprise risk management software for tier-one banks. The number of collateral clients has grown by double-digit figures over the past five years to more than 50, while a similar rapid growth pattern in credit solution sales has increased its client base to over 60.
The latest version of Algo Suite, Version 4.4, leverages Algorithmics' proven Mark-to-Future technology to provide cost-effective, on-time enterprise risk management. It is the first-ever release of Algo Suite that goes beyond Basel II compliance with a framework for robust, enterprise risk management, and delivers Linux and distributed computing support.
"For 15 years, Algorithmics has been a powerful value-add to all levels of a company," said Michael Zerbs, Chief Operating Officer at Algorithmics. "Front office money managers and heads of risk divisions use Algorithmics to inform them how market changes affect a company's risk profile, and how decisions can be made to take on risks intelligently and generate new profit levels. Executives and board members use Algorithmics to manage the firm's risk efficiently across the enterprise or address shareholders with risk numbers that are respected, accurate, consistent and transparent."