Banque Centrale Populaire chooses Algorithmics integrated risk solutions for its enterprise-wide strategic risk management platform

21 January 2009

Algorithmics has announced that, after an extensive selection process, involving a number of risk system vendors, Banque Centrale Populaire (BCP), one of the largest banks in North Africa, has selected Algorithmics’ software as the basis of its enterprise-wide risk management platform. BCP chose Algorithmics’ integrated solution platform for market risk, asset liability management, credit limits, exposure management, Basel II regulatory capital calculation and regulatory reporting as the bank’s group-wide strategic risk management platform.

Mohamed Karim Mounir, General Manager, Banque Centrale Populaire said: “We had many objectives to consider in selecting our solution partner for this important project, including the mandatory requirement for a genuinely comprehensive strategic risk management platform. It was vital that we capture and measure all types of financial risk, to satisfy both our business objectives and regulatory obligations. After an exhaustive evaluation of a number of systems we chose Algorithmics because they could provide a full analysis of risk across our entire enterprise. The Algorithmics platform will capture accurate, fully integrated measures of risk at every level of the BCP Group, within a single, consistent methodology – and will help us manage and allocate our risk capital more effectively.”

Michael Zerbs, President and Chief Operating Officer of Algorithmics, said: “Innovation in financial markets has resulted in market risk, credit risk, credit operations and asset liability management becoming interrelated and dependent. As a result, we are seeing an increasing number of institutions approaching their enterprise risk in a holistic manner. Algorithmics is unique in its ability to meet such demands.”

Neil McClurg, Senior Director Sales, MEA, adds: “After a thorough evaluation by the BCP team, we are delighted that the bank has selected Algorithmics. We very much look forward to working in partnership with BCP to deliver a truly enterprise-wide risk management solution that will become a regional benchmark for enterprise risk initiatives and will assist the bank in competing effectively in the global markets for many years to come. We welcome BCP to the Algorithmics risk community and look forward to continuing to grow in the North African region during the coming months.”

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