IQ Financial Systems has established a Credit Risk Competence Centre in Singapore with the support of the Economic Development Board (EDB).
"The new Risk Competence Centre, which is a first of its kind in Singapore, will spearhead our credit risk software activities in the Asia-Pacific region," says Corinne Neale, managing director of IQ Financial Systems, Singapore. "The credit risk market is undergoing significant changes under the joint pressure of the Basel Committee and the growth of Internet services. Singapore was the ideal location for this centre thanks to its strong technology, academic infrastructure, and its cost base."
The company has several major Asian institutions using its Default Filter credit risk calculator, and plans to release a number of new initiatives through the Centre this year. These include: making Default Filter available through the Internet; creating a risk visualisation module; and introducing extended reference databases and macroeconomic modules.