FERNBACH and DEX launch new strategic partnership with release of FlexFinance® Limit and FlexFinance® DataExchange Tuesday 11 December 2007 PDF Print Leading software houses for banking risk management and compliance will co-market solutions to help with Basel II compliance London & Luxembourg, 11 December 2007 – FERNBACH-Software, a leading provider of banking software solutions for Enterprise-wide Value and Risk Management (EVRM), and DEX, a software and service company for financial institutions, have formed a strategic partnership to co-market new software for banking risk management in the UK. The first fruit of the partnership is FERNBACH’s FlexFinance® Limit, developed by DEX, which enables risk managers to manage thresholds on risk limits to ensure that they are not exceeded. Risk limitation and management is an important part of the second pillar of Basel II compliance. This new solution will be marketed and supported by both companies jointly. FERNBACH’s FlexFinance® Limit is easy to use and manages risk in the banking and trading book. Because it is designed to be flexible, the software can be tailored for any financial institution. In the banking sector, one of the most difficult parts of an IT implementation project has always been collecting data from various systems, cleaning it, enriching it and treating it before loading it into a financial repository for further calculations. DEX has also developed a java-based flexible framework to collect data, which will be marketed under the new partnership agreement as FERNBACH’s FlexFinance® DataExchange. This software is able to accept and export data in a multitude of formats and technologies. Both new FERNBACH solutions are fast to implement and based on open-source technologies. As with other FERNBACH solutions, the new applications integrate with FERNBACH’s DMS, the central data store which ensures all banking calculations are accurate and can be traced back to individual transactions. Mat Dear, CEO at DEX, said: “In the last fifteen years, we have worked with the UK’s biggest banks, and have distilled our experience into our software solutions. We will be working closely with FERNBACH to support its UK clients and to enhance both FlexFinance® DataExchange and FlexFinance® Limit. We chose to partner with FERNBACH because we are convinced that its EVRM suite is technically mature and our solutions perfectly suit its existing DMS. Both companies are committed to adapting their software to the market requirements.” Arnaud Picut, Director of International Sales, at FERNBACH, said: “These new solutions will enable FERNBACH to fill a gap in its EVRM product portfolio. With the addition of these solutions, our banking customers will be able to use new models (including the probability of default and credit scoring) and will also be able to evaluate new types of risk, such as reputation risk and strategic risk. Our customers have requested an integrated limit management system so that the figures already held in the FERNBACH DMS do not need to be calculated again for a different system. The second pillar of Basel II is about much more than pure calculation: it is about control, assessment and stress testing and with our new products we will enable banks to more easily comply.” About DEX The British company DEX, headquartered in London, has its main focus on the delivery of software and services for financial institutions in the two fields of ETL and the Limit Management System. Since its foundation 15 years ago, DEX has been able to gain experience by working with large British banks, such as HSBC and the Royal Bank of Scotland, and as a result DEX has continuously improved its software. About FERNBACH FERNBACH has developed a solution offering called FlexFinance® which is based upon a sophisticated methodology called EVRM. EVRM is a vision and a solution for the integration of risk management, risk and regulatory requirements, balance sheet reporting and controlling within financial institutions. The EVRM methodology is built upon a meta level data repository which collects all data from the banking and trading books and stores this centrally while simultaneously standardising and enriching the data. This centralised meta repository of financial transactions guarantees single calculation of all financial ratios ensuring perfect alignment and reconciliation so that the data can be used for purposes such as Basel II, IAS/IFRS (Multi-GAAP), Liquidity, Controlling, Regulatory Reporting, etc. The entire process is transparent and fully auditable as uniquely the data can be traced back to the deal level. This advanced approach also enables the bank to cost-effectively implement new requirements as they occur such as ECAP. www.fernbach.com For further information please contact: Hazel Butters or Tiru Thiruvilangam Prompt Communications on behalf of FERNBACH Tel: 020 8996 1653 / 07780 687813 email@example.com or Emma Connolly Marketing Director FERNBACH-Software S.A. Tel.: + 352 / 40 22 44 405 Mob.: + 352 / 69 15 55 174 E-Mail: firstname.lastname@example.org This press release was distributed by ResponseSource Press Release Wire on behalf of Prompt Communications Ltd in the following categories: Business & Finance, for more information visit http://pressreleasewire.responsesource.com/about.