Dutch bank Rabobank has purchased risk management software from Ubitrade-Fermat to assist in its Basel II compliance.Rabobank has taken three 'modules', pertaining to Basel II capital requirements, international accounting standards IAS 39 & 32 and global exposure monitor (GEM).
Implementation is now underway, and Ubitrade says it anticipates the system going live in the second quarter of 2004.
“The ability of the product to be customised easily to the bank’s internal requirements as well as its smart credit risk mitigation techniques have made the difference,” said Ben Vergouw, senior vice-president of economic capital at Rabobank.
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