AIM revealed its latest risk management software, which is meant to further meet regulations set by Basel II and reduce the cost burdens on banks.
GAIN OpRisk+, an upgrade of AIM’s original GAIN module, includes all risk assessment areas that financial institutions must comply with in a single package, sparing the costs of integration.
“Banks began to implement operational risk management because in the first row they had to comply with regulatory requirements, but as they spend more time on it, they also start to see the advantages of the model itself,” said Nikolaj Tsenov, senior risk analyst at AIM.
Tsenov added that the software provided a balance between market risk, credit risk and operational risk, and that it could be “used by small and medium sized banks.”