(openPR) - Vienna & Luxembourg, 22 April 2008 – FERNBACH-Software, a leading provider of software solutions in the field of Enterprise-wide Value and Risk Management (EVRM), has selected Christian S. Reisner as the new Country Manager for Austria & CEE in charge of the FlexFinance® Product Suite. The Luxembourg banking software specialist intends consolidating its international expansion strategy and demonstrating its commitment to these growth markets.

In his new position, the Viennese-born Manager will be in charge of selling the powerful FERNBACH portfolio in Austria as well as in the dynamic financial centres of Central and Eastern Europe. He will be responsible for the entire FlexFinance® Product Suite which encompasses the bank management modules IFRS, Liquidity, Profitability, Basel II, ALM, Margin Optimiser and Regulatory Reporting as well as the lending solution, Loan, for the front and back office.

‘It’s exciting to be facing new challenges and to be able to extend my working activities at international level. I’m thrilled to be part of the FERNBACH team who gave me a really warm welcome,' commented Mr Reisner.

Günther Fernbach, CEO and founder of FERNBACH-Software, adds, ‘We’re pleased to have an international sales professional on board, such as Christian S. Reisner, to deal with the Austrian and Eastern European markets. His main task will be to secure the position of FERNBACH-Software in Austria and Eastern Europe and to acquire new customers for our products.’

Viennese office should follow shortly

FERNBACH plans to open an own subsidiary in Vienna, which is to be opened shortly. The new Country Manager Mr Reisner will be able to promote new customer business and improve the support of on-going customer projects. In this region FERNBACH’s client base contains renowned institutions including Volkskreditbank, which uses FlexFinance® Accounting, and Raiffeisen Gruppe, which works with FERNBACH’s solution FlexFinance® Loan.

The new Austrian subsidiary characterises the dynamic expansion course of FERNBACH in Eastern Europe and should release a pulse to the new business in these countries. The move also highlights the success of FERNBACH’s strategy with the help of high quality and customer satisfaction under its own steam.

For more details please contact:

FERNBACH-Software S.A.
Emma Connolly (Director of Group Marketing)
1a, Parc d'activité Syrdall
L-5365 Munsbach

Tel.: + 352 / 40 22 44 405
Fax: + 352 / 40 22 44 310

About FERNBACH:

FERNBACH has developed the solution offering FlexFinance®, which is based upon a sophisticated methodology called EVRM. EVRM is a vision and a solution for the integration of risk management, risk and regulatory requirements, balance sheet reporting and controlling within financial institutions.

The EVRM methodology is built upon a meta level data repository which collects all data from the banking and trading books and stores this centrally while simultaneously standardising and enriching the data. This centralised meta repository of financial transactions guarantees single calculation of all financial ratios ensuring perfect alignment and reconciliation so that the data can be used for purposes such as Basel II, IAS/IFRS (Multi-GAAP), Liquidity, Profitability, Regulatory Reporting, etc. The entire process is transparent and fully auditable as uniquely the data can be traced back to the deal level. This advanced approach also enables the bank to cost-effectively implement new requirements as they occur such as ICAAP.