Prometeia enhances risk management suite with FINCAD libraries

4 March 2021

Prometeia, the leading provider of risk management solutions, and FINCAD, the global provider of multi-asset valuation and risk analytics to financial institutions, announce their collaboration in the field of Balance Sheet Risk Management analytics.

With this solution partnership, Prometeia’s Risk Management Suite users can leverage FINCAD analytics libraries, offering clients world-class valuation and pricing tools for a broad range of financial instruments.

The Prometeia and FINCAD collaboration allows clients to effectively meet the regulatory and business challenges of banks and financial institutions, which are increasingly required to manage the risk of complex products and exotic derivatives.

Prometeia’s ERMAS, the award-wining platform, developed to support all key processes of CRO, CFO and Treasury departments, can integrate FINCAD libraries in order to price fixed income, foreign exchange, and interest rate derivatives in real-time.

Prometeia chose FINCAD as an analytics partner not only for its extensive and renowned product coverage, sophisticated methodology, and accuracy but also for the ease of use and transparency of calculations, fully supported by comprehensive documentation. 

Massimo Pedroni, Head of Risk Management International Business at Prometeia, commented, “By working with FINCAD, we are able to complement our Balance Sheet Management platform with a powerful solution able to meet the most challenging computational needs. As one of the industry’s most sophisticated model and pricing libraries, FINCAD technology can easily be used in a wide range of processes, such as ALM, IRRBB and Behavioral Modeling."

Amar Budhiraja, Managing Director, Strategic Business Development, at FINCAD, commented, “We are excited to partner with Prometeia. With this partnership joint clients can leverage FINCAD’s extensive derivative pricing and risk analytics along with Prometeia’s ERMAS solution to actively manage their balance sheet risk. The collaborative solution will allow clients to accurately and transparently represent their most complex financial products on their balance sheet to help comply with regulations and ultimately manage their capital requirements.”  

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