Asset Control says Allied Irish Banks’ Global Treasury Division has bought systems from the company to centralize pricing data and curves for risk management purposes. AIB expect to be in production with the technology by September this year.
It will interface with internal and external data sources and will manage foreign exchange, fixed income and derivatives data for AIB. In addition, the AC Contour risk management system supplied by Asset Control will provide managers and analysts with the ability to create risk factors by converting data into curves, surfaces, volatilities and covariance matrices for analysis in risk management, portfolio evaluation and pricing. With a centralized database in Dublin, AIB users in New York, Poland and London will access the platform via the AC Desktop.
“Many institutions have multiple databases and a mix of systems which need to be centralized in order to achieve a more auditable, controlled environment,” says Ger Rosenkamp, CEO of Asset Control. “With AIB’s fast implementation we demonstrated how we could centralize their data management without the uncertainty that typically comes with complex risk management solutions. We are pleased to welcome AIB as a valued new customer of our turnkey initiative.”