GL Trade, a provider of front to back services for financial institutions, is supplying Bank Vontobel with its Fermat risk management suite. The deal will help the Swiss bank to meet the enterprise requirements for its credit risk and operational risk.
Bank Vontobel will use the risk management suite to build an integrated enterprise risk management system. The implementation based on Fermat has already started and will take about 12 months.
Susanne Brandenberger, head of risk control at Vontobel, commented, A key element within our decision making was the integrated global risk platform of Fermat’s risk management suite with the potential to cover Basel II calculation, credit as well as operational risk.
Patrice de Berranger, head of risk management business line for GL Trade, added, With more than 40 Basel II references, doubled in one year, the Fermat suite has built a reputation on meeting regulatory requirements within a very short period of time. The capability of Fermat to handle operational risk measurements and controls in addition to the Bank credit risk exposure monitoring within the same data environment will be a strong advantage and a value solution for Bank Vontobel.