AmBank Group implements Kamakura Risk Manager for Basel 3 LCR and NSFR
SINGAPORE, October 5, 2020: Kamakura Corporation, the global leader in advanced analytics for enterprise risk management, is pleased to announce that AmBank Group has successfully implemented Kamakura Risk Manager (KRM) to manage compliance with Basel III Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) requirements. AmBank Group is a leading financial services group with over 40 years of expertise in supporting the economic development of Malaysia.
The Basel Committee on Banking Supervision reformed the LCR and NSFR ratios in response to the financial crisis to ensure that banks hold sufficient reserves of high-quality liquid assets (HQLA) and have adequate stable funding, to promote a more resilient banking sector.
Financial institutions want to do more by not only complying to regulations. They would like to integrate compliance functions with their enterprise risk management systems in a manner that is transparent and flexible. The enhanced Basel Committee rules have given them an opportunity to implement best practice solutions leveraging sophisticated technologies including big data analytics and scalability.
As one of Malaysia’s leading financial institutions, AmBank needs a solution that would meet its needs both today and in the future. It also requires timely and professional implementation. Kamakura’s software solution and subject matter expertise satisfies the bank’s requirements at every level.
Jamie Ling, Group Chief Financial Officer, AmBank Group said “Kamakura’s understanding of the local regulatory requirements is the key differentiator in our decision to select KRM. This is also based on the experience they shared with us and KRM’s capabilities of not just meeting the minimum requirements of regulatory reporting, but also the ability to forecast our LCR requirements in daily and stress test scenarios. We have also deployed KRM’s sandbox engine and analytics capabilities in our trading room which allow our traders to better manage the liquidity needs of our operations.”
Dr. Clement Ooi, Kamakura’s President of Asia Pacific Operations, said, “In today’s ever-changing regulatory landscape, meeting minimum regulatory requirements alone is no longer a viable strategy for banks. AmBank, like other financial institutions, is looking for a long-term solution that also addresses regulatory requirements as they continue to evolve. Since the introduction of the Basel II Capital Framework in 1988, almost all new guidelines have called for robust cash flow calculations. Once KRM is implemented, the banks can select the appropriate module with efficient implementation plan. This has allowed AmBank to streamline project resources, optimise implementation time, and meet new regulatory requirements more quickly.”
Wilson Yap, Kamakura’s Senior Vice President and Head of Professional Services, said, “We enjoy a long-term relationship with all our clients and know how to listen and respond to their needs. AmBank has been a client since 2010, and we have grown along with it. AmBank has deployed KRM Version 10, which was built from the ground up in 2018 and is now deployed globally. Version 10 offers faster processing speed, an intuitive user interface, and better accuracy. It is a complete enterprise risk management solution for banks and will help them meet all future regulatory requirements using a single database.”
About AmBank Group
AmBank Group is a leading financial services group with over 40 years of expertise in supporting the economic development of Malaysia. We have over three million customers and employ over 8,000 people.
The Group was listed on the Main Market of Bursa Malaysia in 1988. It is the sixth-largest banking group by assets in Malaysia, with a market capitalisation of around RM9.0 billion and assets of RM169.2 billion as at 31 March 2020.
AmBank Group serves over three million individual and corporate customers. It provides services in wholesale banking, retail banking, business banking, investment banking and related financial services which include Islamic banking, underwriting of general insurance, stock and share broking, futures broking, investment advisory and management services in assets, real estate investment trust and unit trusts.
For more information, please visit ambankgroup.com.
For more information, please contact Syed Anuar Syed Ali, Executive Vice President, Group Corporate Communications and Marketing, AmBank Group at Tel: 03-2036 1703 or email at email@example.com.
About Kamakura Corporation
Founded in 1990, Honolulu-based Kamakura Corporation is a leading provider of risk management information, processing, and software. Kamakura was recognized as a category leader in the Chartis Report, Technology Solutions for Credit Risk 2.0 2018. Kamakura was named to the World Finance 100 by the editor and readers of World Finance magazine in 2017, 2016 and 2012. In 2010, Kamakura was the only vendor to win two Credit Magazine innovation awards. Kamakura Risk Manager, first sold commercially in 1993 and now in version 10.1, is the first enterprise risk management system for users focused on credit risk, asset and liability management, market risk, stress testing, liquidity risk, counterparty credit risk, and capital allocation from a single software solution. The KRIS public firm default service was launched in 2002. The KRIS sovereign default service, the world’s first, was launched in 2008, and the KRIS nonpublic firm default service was offered beginning in 2011. Kamakura added its U.S. Bank default probability service in 2014.
Kamakura has served more than 330 clients with assets ranging in size from $1.5 billion to $3.0 trillion. Current clients have a combined “total assets” or “assets under management” in excess of $26 trillion. Its risk management products are currently used in 47 countries, including the United States, Canada, Germany, the Netherlands, France, Austria, Switzerland, the United Kingdom, Russia, Ukraine, South Africa, Australia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Singapore, Sri Lanka, Taiwan, Thailand, Vietnam, and many other countries in Asia, Europe and the Middle East.
To follow risk commentary by Kamakura on a daily basis, please follow:
Kamakura CEO Dr. Donald van Deventer (www.twitter.com/dvandeventer)
Kamakura President Martin Zorn (www.twitter.com/riskmgrhi)
Kamakura’s official twitter account (www.twitter.com/KamakuraCo).
For more information, please contact:
2222 Kalakaua Avenue, Suite 1400, Honolulu, Hawaii 96815
Web site: www.kamakuraco.com