IT&e and FHLBank Pittsburgh have today signed a license agreement to implement Razor to address the bankâs credit risk exposure and limit management requirements across its growing business. The decision to select Razor was made after an extensive evaluation of a number of global vendors.
Razor was identified as the best fit for FHLBankâs requirements to replace its internally developed application with a best of breed real-time credit exposure system.
J. Michael Hemphill, Chief Risk Officer at FHLBank Pittsburgh commented, âIT&e offers a unique combination of thought leadership in counterparty exposure measurement and state-of-the-art technology. Our credit policy mandate is constantly evolving, and the increasing complexity of the bankâs trading and hedging activity required us to identify a solution that is inherently adaptable and
John Groetch, COO of IT&e in North America noted, âwe perceived a very good fit when we analyzed the special requirements of the Federal Home Loan Bank. Razor will not only suit their immediate needs, but offers a broad range of capabilities that will foster further advancement in the measurement and management of counterparty risk at FHLBank Pittsburgh James Maranis, CEO of IT&e said, âWe are pleased to have the opportunity to implement Razor into a
prestigious organization such as the FHLBank. This deal marks a major milestone for the company and strongly supports the competitive nature of our Razor product across the globe and in particular the North American Region. We are extremely encouraged on future growth given the demand in the region and in our ability to vie successfully against our major competitors.â
âThis represents another significant step for IT&e in converting its substantial international sales pipeline to revenue.â