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Bank J. Van Breda, a specialist retail Belgian bank, selects riskpro™ for Asset Liability Management, extending its IFRS & Basel II usage

01-10-2007 04:07 PM CET | IT, New Media & Software

Press release from: IRIS integrated risk management ag

Zurich, January 9, 2007 – IRIS AG, a world leading provider of solutions for financial risk management, announced today that Bank J. Van Breda, a specialist Belgian retail bank, has selected riskpro™ to replace its current ALM tool. The bank is finalizing the implementation of riskpro™ for IFRS and for Basel II. Beside KBC, Bank J. Van Breda is IRIS AG’s second customer in Belgium and the third Belgian bank to use the ALM modules.

The trigger for the evaluation of riskpro™ was the Basel II new capital accord. The bank wanted to report externally first with the standardized approach and at the same time implement the IRB foundation approach. In addition it was appreciated that IRIS is a highly professional and nimble organisation, promptly responding to the requests of smaller and medium sized customers.

The selection process started in 2004; the contract was signed in March 2005. Already during the Basel II evaluation process the scope was extended to include the IFRS modules.

The bank sees riskpro™ as its core risk management and reporting system. An illustration of this is that the bank already included in the IFRS and Basel II contract an option to purchase also the ALM modules. This option has meanwhile been exercised, meaning that riskpro™ will replace the existing older ALM tool.

The Implementation Team for ALM, led by Herbert Handstanger, quoted the following reasons to go for riskpro™ in the ALM area too: "Given the fact that data and core logic are very similar for IFRS, Basel II and ALM the decision to extend the scope came natural to us”.

Kris Luyten, Senior Consultant at IRIS AG, commented: "The integrated nature of riskpro™ is an essential strength for this medium sized bank. It saves time and money by avoiding multiple data feeds and reconciliation processes."

About IRIS
IRIS integrated risk management ag, formed in 1992 in Zurich, continuously develops, maintains and supports its riskpro™ financial analysis infrastructure. Selling, implementation and consulting are executed worldwide directly by IRIS AG and in cooperation with a number of regional partners.

About riskpro™
riskpro™ enables financial organizations to measure and monitor risk and profitability enterprise-wide with a single cost effective integrated analysis infrastructure. riskpro™ covers: Market Risk Analysis, Credit Risk Analysis, Performance and Funds Transfer Pricing, Dynamic Simulation, Strategic Enterprise Management (SEM), Limit Management, Settlement Risk, Rating / Scoring, Basel II, Regulatory Capital, Economic Capital, Capital Allocation, IAS 32 & 39 / IFRS 7, Solvency II, Asset and Liability Management, Liquidity risk Management and Analysis, Operational Risk.

These analyses cover all financial products, from saving accounts to exotic options, for any type of accepted valuation method. The underlying universal contract-centric data model and calculation engine of riskpro™ ensures precision and consistency in all results. riskpro™ is currently being used or implemented in over 200 small to large financial organizations in 20 countries.

About Bank J. Van Breda
Bank J. Van Breda is a specialist Belgian bank, focusing on entrepreneurs, family-owned businesses and the liberal professions. The bank has 400 own staff, and works through a network of fully owned retail branches. The balance sheet is € 2.7 billion. This includes a substantial car financing activity.

Lidia Suligoj
IRIS marketing & sales support coordinator
+41 (0)44 388 59 59

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