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FlexFinance Profitability enables banks to dramatically improve their budget and planning process and to present and publish financial performance analysis

26 February 2008 – FERNBACH, a leading provider of solutions for Enterprise-wide Value and Risk Management (EVRM), has launched FlexFinance® Profitability, a software solution that will enable banks to manage the planning and budgeting process in an easier, faster and more transparent way.

FlexFinance Profitability provides the complete software solution for banks’ pricing, planning, internal reporting, and profitability analysis including product, organisational and customer analysis. Data is gathered from diverse systems and automatically analysed, including the calculation of gross yields, net yields, and yields by products and customers. The software incorporates Business Intelligence (BI) functions, via which performance analyses which can be presented and published more efficiently. This enhanced Profitability software can also create daily and monthly reporting packages using balanced scorecards, dashboards and Key Performance Indicators (KPIs). These packages can then be published via the FlexFinance® Portal, or other media such as email, enabling easy role-based access to the information.

FlexFinance® Profitability enables users to create strategic detailed plans for the upcoming financial year. It provides flexible methods for consistently and transparently combining business with existing customers, planned new business and expected total results. The underlying top-down/bottom-up process is performed in the system. As for each planning step, the resulting ‘targets’ are archived and can be traced and checked using performing variance analyses.

The FlexFinance Profitability solution fulfils the requirements of making results more transparent by integrating a profitability management solution into a bank’s own communication system by incorporating a workflow control function which can be used to model process sequences. The Audit Trail enables users to trace all process steps consistently at any time. MS Office has been integrated into each step in the form of documents, emails or chat functions.

The software is fully IFRS-compliant, and enables a single source of data to be used for the P&L accounts and internal controlling. This ensures total agreement of the internal and external views of the banks’ business.

Günther Fernbach, CEO of FERNBACH-Software, “FlexFinance Profitability is a critical component for overall planning and profitability activities within financial institutions. Our solution supports the controlling processes that are responsible for corporate reporting by providing income and risk analyses which are instrumental in ensuring bank management processes and good governance.


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 ICAAP.

www.fernbach.com

For further information please contact:

Hazel Butters
Prompt Communications on behalf of FERNBACH
Tel: 020 8996 1653 / 07780 687813
fernbach@prompt-communications.com

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