Isracard, an Israel-based credit card company, has implemented Financial Architects’ (FinArch) Financial Studio FRP platform to calculate the Isracard Group’s capital management requirements. Reportedly, FinArch’s Financial Studio solution ensures compliance with the Basel II regulation under Pillar I, Pillar II and Pillar III.
FinArch has said that Financial Studio’s risk and capital management solutions come with a range of functionality to address the requirements of Basel II, Liquidity Risk, Economic Capital, RAPM, ALM and other risk-related performance measurement ratios. It provides a fully-integrated capital and risk management solution that delivers support for enterprise-wide credit, market, and operational risk management, ensuring compliance with external regulations.
Rami Shpayer, manager of operation department and chief risk controller at Isracard, said: “Financial Studio is calculating and reporting the required capital needed and the capital adequacy according to Basel II. Currently, the report is structured according to the European CoRep regulations. We look forward to proceeding with this successful collaboration in line with definitions and specific structures as specified by the Bank of Israel”.
Frederic Simons, VP of regional business development at FinArch, said: “Financial Studio offers high scalability in terms of volume and functionality and, thus, makes the perfect solution for Isracard Group. This relationship demonstrates FinArch’s further success and ongoing commitment to the Middle East region. We are very pleased with Isracard’s confidence in our company to provide them with a sophisticated risk and capital management platform.”
Financial Architects is an international provider of Finance Resource Planning (FRP) platform for the finance industry.
