FERNBACH optimises liquidity reporting for NORD/LB Luxembourg

Luxembourg, 02 July 2009 – FERNBACH-Software, a global provider of award-winning financial software solutions, and Norddeutsche Landesbank Luxembourg have concluded a contract for the solution "FlexFinance® Analytix Liquidity Reporting”.

Due to a lengthy and successful co-operation with FERNBACH, NORD/LB Luxembourg decided to add the high-performance software FlexFinance® Analytix Liquidity Reporting, developed specially for liquidity risk management in banks, to its existing solutions.

NORD/LB Luxembourg, which is a sub-group of three independent financial institutions, will use FlexFinance® Analytix Liquidity Reporting to manage liquidity risks in the three companies and the sub-group. Liquidity trends and liquidity options will be analysed for all companies on a daily basis under several scenarios including stress scenarios and then compared to the set limits. The results will be generated automatically in the form of reports and disseminated within the companies and group reports will be compiled automatically on a daily basis by FlexFinance® Analytix Liquidity Reporting.

The SOA architecture of this software solution allows easy and cost-efficient integration into the existing risk environment at NORD/LB Luxembourg. Existing systems and structures can be incorporated into the new liquidity management component without difficulty because of its open architecture.

Fabrizio Romano, Region Manager at FERNBACH commented as follows, “With our new Analytix solution, we can provide a powerful and flexible framework for risk modelling which banks such as NORD/LB Luxembourg can use to easily create and directly analyse risk models for their business activities. This is instrumental in providing sufficient “internal capital” to cover all essential risks. By opting for the new software, NORD/LB is well equipped for the future and can react quickly to changes in internal management, to new corporate requirements as well as new regulatory approaches.”

Alexander Gröling, Head of Risk Management at NORD/LB Luxembourg, made the following comment, "We have been working with FERNBACH for a few years now. We decided to buy the new risk management solution, to optimise liquidity reporting processes, minimise operational risk and remain competitive, particularly during this financial crisis. Our vision is to provide reports according to the logic described above also for other risk components.”

About FERNBACH:

FERNBACH is a global leader of analytical solutions for the finance industry. Modular software bundles for Multi-GAAP accounting, risk, compliance and loan enable our customers to optimise business processes.

FERNBACH offers a sophisticated component-based solution portfolio which ensures faster time to market and rapid implementation of banking requirements thus mitigating risk and ensuring quality.

Our customers worldwide benefit from our combined expertise to overcome challenges and to provide solutions for future success. FERNBACH innovates to maximise the performance of our clients.

For further information please contact:

Emma Connolly | Director of Group Marketing
FERNBACH-Software S.A.
Tel.: + 352 402244-405
Fax: + 352 402244-310
emma.connolly@fernbach.com
www.fernbach.com

This release was published on openPR.