Taiwan's First Digital Bank Implements Fully-Integrated Kamakura Risk Management Solution
SINGAPORE, March 30, 2020 /PRNewswire/ -- After doing a comprehensive vendor evaluation, Next Commercial Bank (NCB), Taiwan's first digital bank, has implemented Kamakura Corporation's suite of solutions to manage risk. The bank believes that a modular and integrated solution offers distinct advantages over disparate systems by saving costs and increasing transparency and efficiency. NCB is one of the first institutions in the digital banking space to augment its digital offerings with a robust and advanced technology enterprise risk management infrastructure platform.
Mr. Kung-Ho Chang (Chief Risk Management Officer, NCB) said, "After extensive evaluation and due diligence, NCB felt that Kamakura's integrated ERM system was best suited to provide the holistic and dynamic perspective the bank needs to address of its regulations and requirements. The selection of Kamakura's suite of Credit Risk, Market Risk, FTP, ALM, IRRBB, Basel III LCR and NSFR solutions was based on the company's well-integrated and advanced solution, which encompasses balance sheet management as well as regulatory requirements."
Dr Matt Yu, Kamakura's Managing Consultant of Professional Services for Asia-Pacific, said, "One key factor for choosing Kamakura as an integrated risk management system was that unlike other risk management solutions, it allows banks to use the same variables for stress testing scenarios and new business assumptions, generating holistic risk metrics. In addition, by subscribing to Kamakura Risk Information Service (KRIS), NCB has access to default probabilities for more than 40,500 corporate institutions in 76 countries and 180 sovereigns—information the company updates daily."
Frances Cheng, Vice President and Director of Professional Services for Asia Pacific said, "The bank was also impressed by Kamakura's professional approach and the deep expertise of its international, regional, and local consulting staff. And Kamakura's platform, by performing one-time data extraction and reconciliation of the bank's exposure before generating the risk metrics, provides the bank a coherent approach to strategic analysis and reporting. The platform is based on common data architectures and is supported by strong governance of data hierarchy, traceability and lifecycle, yielding optimal business value for a digital bank."
Kamakura's unique offering of a complete, advanced ERM solution is essential for banks to actively manage cash flow and accurately assess the margins of internal business units. It is user-friendly and flexible in its configuration, allowing users to configure simulations intuitively on a day-to-day basis.
Dr. Clement Ooi, Kamakura's President, Asia-Pacific Operations said, "We are happy that NCB is now able to manage its risk by running simulations in multiple scenarios, integrated with a dynamic view of the rest of its balance sheet profile. The bank will be able to incorporate risk metrics into both its short-term and long-term planning strategies. Kamakura's KRIS credit information will help NCB to manage risks inherent in credit portfolios and to optimize credit investment decisions, complementing Kamakura's integrated balance sheet solution."
Kamakura's portfolio management system includes data elements to capture the characteristics of all financial products, whether in a digital or a mainstream banking environment. By viewing its entire exposure within a single table and a single database, any bank can easily create reports, analyze results, and generate risk metrics. It provides everything a bank would want in a gaining a holistic and integrated risk management solution.
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 10.0.5, 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 $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).
About Bank Next Commercial Bank
Next Commercial Bank, led by Taiwan's Chunghwa Telecom, became the first financial services firm in Taiwan to be issued a digital banking license by the Taiwanese financial authorities in July 2019.
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