Datamatics launches solutions for risk management by banks

Our Convergence Bureau
11 October 2003

Several 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.

The 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.

Says 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."

Datamatics 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.

Under 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.

In 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.