the first time in India, IT multinational company Datamatics,
in association with Canada-based Algorithmics, has launched
a host of technological solutions for risk management
public and private banks have already shown a keen interest
in the Algorithmic suite of solutions, which have been
tested and trusted by as many as 140 clients in 26 countries
worldwide. More than 40 of the world''s top 100 banks
use Algorithmics software.
launch of the products in India assumes significance
in view of an increased number of banks choosing the
technology highway to increase the efficiency of their
services and performance.
Datamatics managing director Rahul Kanodia: "We
are in a position to offer cutting-edge technology and
customised solutions to banks and other financial institutions
for their core banking operations. The Algorithmics
suite comes in at the right time since many banks are
keen on cutting down their non-performing assets."
has launched a series of seminars to present the Algo
suite of products to banks. The seminars also addresses
key issues vital to developing a successful risk management
and approach towards Basel 2 compliance with respect
to operational risk management.
pressure from regulators and shareholders alike, institutions
have to quantify their exposures and more accurately
and on an enterprise-wide basis with capital relief
being garnered by those that demonstrate a robust risk
management process based on an accurate risk analysis.
response to these needs, Algorithmics has built an integrated,
scaleable and powerful architecture that allows institutions
to respond to market developments and evolving regulatory
requirements in a way that is both informed and timely.
risk technology is built upon a set of components that
cover data management, scenario generation, market,
credit and operational risk analysis, limits management,
collateral management and reporting. Algo suite supports
real-time, batch and interday data acquisition.