Lisbon-based Banco Portugues de Negocios (BPN) is implementing risk management technology from UK-based Misys Banking Systems to comply with the Basel II regulations and International Accounting Standards (IAS).
The vendor says BPN is rolling out its Misys Basel II and Misys IAS products, which will enable the bank to manage risks centrally, with consistency, coherence and accurate results across all departments and divisions.
The Basel II module provides analytics, advanced analysis, data warehouse, and reporting functionality. Misys IAS components include IAS 39 calculator, hedge management and reports, IAS 32 reporting, IAS 39 journal posting, IAS 39 data store and IAS 39 process management.
Joao Goncalves, director, BPN, says: "This enterprise risk management system will allow us to be fully compliant with the Portuguese regulations.
"At the same time, the analysis and isolation of our risks has been revolutionised. We will be able to conduct analysis at the contract level, allowing us to provide the regulators any information they require."