GL TRADE says Bank Vontobel has bought its Fermat operational risk application.
Vontobel believes the application will help the bank manage credit as well as operational risks under Basel II. The implementation has already started, but will take about 12 months.
“A key element within our decision making was the integrated global risk platform of Fermat’s Risk Management Suite with the potential to cover Basel II Calculations, credit and operational risk,” says Susanne Brandenberger, head of risk control at Vontobel.
“With more than 40 Basel II references the Fermat suite of solutions has built a reputation on meeting regulatory requirements within a very short period of time,” adds Patrice de Berranger, head of risk management business line for GL TRADE. “Our commitment to Bank Vontobel helps meet the needs of a dynamically growing enterprise. 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.”