RBS selects Algo credit to manage global wholesale credit limits

Royal Bank of Scotland (RBS) has selected Algo Credit to manage its global limits and exposures management from Algorithmics, the Toronto-based provider of risk management software.

RBS will use Algo Credit to oversee financial credit risk for all its commercial and treasury portfolios. Algo Credit's limits and exposure functionality provides an integrated framework for managing credit risk across the enterprise, covering real-time global limits and counterparty exposure management for both trading and banking book products.

RBS chose Algorithmics following a review of other vendors and cited Credit's scalability, component-based architecture, and coverage of both banking book and trading book as important in its decision to opt for the Canadian-built software.

Laurie Mayers, group head of Basel II and credit systems co-ordination at RBS, said Credit would provide a single, fully integrated view of the bank's counterparty exposures across all products and business lines. “Longer term, Algo Credit will also serve as a core data storage and aggregation platform for our BIS II risk architecture at the group and core wholesale bank level," he added.

Algo Credit will replace some internal limit and exposure management systems at both group and divisional level, and will in other cases be integrated with existing operating systems to achieve a global view of RBS' credit risk. Installation for RBS' core corporate bank and financial markets businesses will be complete by the end of this year.

Other users of Algo Credit include Italian bank Capitalia and Mexican regional bank Banorte.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Chartis RiskTech100® 2024

The latest iteration of the Chartis RiskTech100®, a comprehensive independent study of the world’s major players in risk and compliance technology, is acknowledged as the go-to for clear, accurate analysis of the risk technology marketplace. With its…

T+1: complacency before the storm?

This paper, created by WatersTechnology in association with Gresham Technologies, outlines what the move to T+1 (next-day settlement) of broker/dealer-executed trades in the US and Canadian markets means for buy-side and sell-side firms

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here