March 27, 2009. IBS and FERNBACH, the European developer of specialised software for the finance industry, offer the new FlexFinance® Product Suite in Russia. Now Russian banks and financial institutions can benefit from FlexFinance® products, which incorporate advanced experience of global banking industry leaders in risk management and financial reporting.
FlexFinance products give the bank management more flexibility and efficiency in decision-making, a very important advantage in a fast-changing market environment.
The new product line encapsulates 20 years of FERNBACH experience of developing software for the finance industry. The company’s products are used by major banks including Credit Suisse, Commerzbank, HSBC, UBS, Deutsche Bank and others. FERNBACH software has been present in the Russian market through IBS, the exclusive partner, since 2007.
The new product line includes:
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FlexFinance® IFRS - parallel accounting under IFRS and other accounting and reporting standards;
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FlexFinance® Basel II – Basel II compliance;
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FlexFinance® ALM - risk management and control for all banking transactions;
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FlexFinance® Liquidity - liquidity management;
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FlexFinance® Profitability – building performance indicators, planning and budgeting;
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FlexFinance® Margin Optimiser - deposit product interest rate policy solution;
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FlexFinance® Regulatory Reporting – reporting under international standards;
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FlexFinance® Analytix - environment for building user-defined risk management models.
Flexibility and scalability of the technology platform and the service-oriented architecture (SOA) enable fast functionality expansion in line with the bank’s priorities. Pre-configured templates reduce project duration and project budgets and assure fast return on investment in implementation, making FERNBACH solutions more preferable as IT budgets are optimised in the finance industry. FlexFinance® products are easily integrated with the bank’s existing IT solutions and provide the groundwork for integrated management reporting, financial reporting and risk management systems.
“Russian banks have already been showing strong interest in IT solutions for collection and generation of financial statements for some years. This interest is driven by tightening Central Bank requirements and the banks themselves seeking to assure quality of analysis. We can see those trends in the field of risk management too. Even though the market demand for banking automation has decreased, expertise of building such systems still remains high on the agenda. The new line of FERNBACH products reflects the best practices and the most effective tools in that field, and we are glad to offer those to the Russian market,” said Alexey Savelyev, Director, Department of Services for Banking Institutions, IBS.
IBS is the leader in the Russian IT and consulting market. Along with Luxoft and Depo Computers, it is part of IBS Group Holding Limited. Its core lines of business span management consulting, implementation of business applications, IT outsourcing and IT infrastructure. IBS headcount is about 3,000 employees including over 1,500 certified consultants and professionals. IBS customer base includes 34 of Russia’s top 50 companies. For more information on the company please visit http://www.ibs-company.com/.
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