Vietnam’s Techcombank Upgrades Risk Management with Kamakura’s Suite of Solutions

01/10/2022 07:22 AM

SINGAPORE, 11 January 2022: Kamakura Corporation has completed an upgrade project of its suite of solutions for Vietnam-based Techcombank, one of country’s leading commercial banks and an institution that offers a sustainable financial foundation and an outstanding portfolio of products and services.

The bank, an innovation pioneer and early adopter of new technologies and standards (including Basel II and IFRS9 rules), had been using the Kamakura Risk Manager (KRM) system since 2012 and has now added the software’s balance sheet management and funds transfer pricing solutions to its enterprise risk management (ERM) capabilities. The upgrade project included software implementation, subject-matter consulting, and the creation of custom reporting designed to meet to the bank’s executive management and regulatory requirements.

“More than 330 clients in over 47 countries are using Kamakura’s state-of-the-art enterprise risk management solution,” Dr. Clement Ooi, President of Asia-Pacific Operations for Kamakurasaid Dr. Clement Ooi, President of Asia-Pacific Operations for Kamakura. “Regulatory compliance has broadened and deepened in recent years, and Kamakura is uniquely positioned to ensure that banks meet these regulatory requirements with accuracy and consistency. Every methodology and model can be proven using our reconciliation templates, helping our customers meet any audit requirements.”

“Techcombank and Kamakura have been partners since 2012, and their relationship has deepened through the years as Kamakura has provided support and training for the bank’s staff,” said Wilson Yap, Senior Vice President of Kamakura. “As an advanced bank, Techcombank believes in dynamically managing its risk positions and wanted an integrated view to manage and forecast its balance sheet and profitability. Wilson Yap, Senior Vice President of KamakuraWe tailored our software to meet this requirement and provided advice on best industry practices to complement the fully integrated ERM solution.”

“The advent of digital transformation and today’s volatile financial world can be disruptive to banking. Banks that adopt an integrated balance sheet view will navigate well in this fast-changing economic landscape,” said Tan Chee Hian, Vice President of Kamakura.Tan Chee Hian, Vice President of Kamakura “With this upgrade, Techcombank will gain an accurate assessment of its risks at all times. Through KRM’s “what-if” scenario analysis, it will be prepared for any adverse movements in market conditions. The bank can also actively manage its liquidity and funds transfer pricing (FTP) through the stress testing of macro factors. By assessing the impact of these factors on liquidity and cash flows — on both a contractual and a behavioural basis – the bank can manage its risk profiles and optimise returns more dynamically.”

 

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 non-public 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 $7.0 trillion.  Current clients have a combined “total assets” or “assets under management” in excess of $38 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).

About Techcombank
Established in 1993, just as Vietnam was beginning its transition from central planning to a market-oriented economy, Techcombank is now one of Vietnam’s largest joint-stock banks and a leading bank in Asia. Its mission is to lead the digital transformation of the financial industry, enabling individuals, businesses, and corporations to advance and thrive sustainably. The bank pursues a proven customer-centric strategy and offers a broad range of banking solutions to 9.2 million customers through a network of over 300 branches. Its personal, corporate, and investment banking services are implemented across key economic sectors in one of the world’s fastest growing economies.

Techcombank has earned a high ranking from ratings agencies and has received numerous awards and honors from financial institutions and authorities. Moody’s rates it the highest among Vietnamese banks, ranking itBa3, Positive Outlook — the only bank in the nation to achieve that designation. Euromoney named it ”Best Bank in Vietnam” in 2018 and 2021, as did FinanceAsia in 2020 and 2021. In the third quarter of 2021, the bank was designated “Leading Partner Bank in Vietnam” by Asia Development Bank. HR Asia labeled it “One of the best companies to work for in Asia” for two consecutive years. The Asian Banker recognized the bank as the “Best Payments Bank” and “Most Recommended Transaction Bank” in Vietnam.

Techcombank is listed on the Ho Chi Minh Stock Exchange (HoSE) under the ticker symbol TCB VN.

For more information, please contact:
Kamakura Corporation
2222 Kalakaua Avenue, Suite 1400, Honolulu, Hawaii 96815
Telephone: 1-808-791-9888
Facsimile: 1-808-791-9898
Information: info@kamakuraco.com
Web site: www.kamakuraco.com