The Saudi Investment Bank selects Almonde as risk management and compliance platform

London May 12, 2005 – Almonde announced that The Saudi Investment Bank (SAIB) had selected the Almonde platform for complete compliance and risk management solution.

"Our challenge was to integrate a Basel II IRB-advanced system in SAIB’s current environment while implementing a comprehensive risk management solution across the bank" said Shawn McMorran, Almonde CEO. "We will implement accurate, consistent and powerful analytical engine across ALM, Funds Transfer Pricing, IAS and Basel II. Almonde proven implementation methodology and smart technology will help SAIB get up and running quickly. Subsequent phases be delivered with the same level of efficiency" added McMorran.

The Saudi Investment Bank (SAIB) is a Saudi Arabian company established since June 23, 1976. SAIB is a full service wholesale commercial bank specializing in financing the requirements of sophisticated private sector companies. SAIB provides a full range of personalized and professional banking services to financial institutions, corporations and individuals.

Since 1995, Almonde’s industry experts have been building integrated solutions to help banks implement sound, smart, reliable risk management practice and comply with banking regulation in a cost-effective manner. With professionals in London, Paris and India, Almonde offers an award-winning risk management platform composed of four major products: Basel II, Asset Liability Management (ALM), IAS 39 and Funds Transfer Pricing (FTP), leveraging a common scenario analysis engine and data model. These solutions are available either on a stand-alone basis or on an integrated global solution basis.

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