The deal will help Bank Vontobel, one of the largest private banks and asset managers in Switzerland, to meet the enterprise requirements for their credit risk as well as operational risk management. Bank Vontobel will use the risk management suite to build an integrated groupwide enterprise risk management system - the implementation based on Fermat has already started and will take about 12 months.
The Fermat Solution offered by GL TRADE was chosen after thorough analysis in competition with major international and local solutions.
Susanne Brandenberger, Head of Risk Control at Vontobel, comments: " A key element within our decision making was the integrated global risk platform of Fermatâs Risk Management Suite with the potential to cover Basel II Calculation, Credit as well as Operational Risk. "
Patrice de Berranger, Head of Risk Management Business Line, GL TRADE, added: " With more than 40 Basel II references, doubled in one year, the Fermat suite of solutions has built a reputation on meeting regulatory requirements within a very short period of time. Our commitment to Bank Vontobel to meet the needs of a dynamically growing enterprise is a key factor to this selection. The capability of Fermat Suite to handle Operational risks measurements and controls in addition to the Bank credit risk exposure monitoring within the same data environment will be a strong advantage and a value solution for Bank Vontobel."