DGZ DekaBank, a German financial institution specialising in wholesale banking and fund management, has agreed to roll out London-based financial services vendor Misys International Banking Systems’ Risk Vision suite.The risk system, which underwent a substantial upgrade and was re-launched as Version 5 in December 2001, is expected to go live at the bank’s Frankfurt headquarters in Q1 next year.
The DGZ DekaBank/Misys contract was signed at the end of November, illustrating the timeframe and complexities of a typical enterprise-wide bank implementation.
“Ideally, we wanted a system that would complement our existing risk technology, optimise our capital allocation and enhance the bank’s credit limits and exposure management,” said a DGZ DekaBank spokesman.
One of the key aspects influencing its decision to opt for Risk Vision was the application's support for credit risk management in the trading and lending businesses areas.
Risk Vision, which has also been rolled out by UK bank Abbey National, supports credit, market and operational risk analysis and management, exposure and limits management and 24/7 trading.Mysis is expected to formally announce the deal on Monday.
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