Chinatrust Commercial Bank selects Fermat for Basel II compliance
Fermat Pte, a leading independent provider of risk and performance management solutions to the global banking industry today announced that Taiwan's top bank, Chinatrust Commercial Bank, will implement Fermat's Basel II software solution.
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Chinatrust signed an agreement for the deployment of Fermat CAD (Capital Adequacy Directive), Fermat's Basel II compliance solution. Chinatrust will implement all three approaches for calculating capital requirements - the standardized approach (SA), the internal rating-based foundation approach (IRBF) and the internal rating based advanced approach (IRBA).
"Chinatrust's choice of Fermat serves as a fine illustration of how we have developed the top Chinese-language Basel II solution available in the market. By endorsing Fermat software, Chinatrust again demonstrates its leadership in moving forward toward Basel II compliance, serving as an example to other regional players in Greater China who are swiftly moving ahead on their timetables," said Gilbert Gagnaire, Co-Founder of Fermat.
Chinatrust's Vice President for the Credit Strategic Planning Department, Katty Hsu commented, "Fermat has established itself as the vendor of choice in the Asia Pacific Region. We look forward to working with the Fermat team in strengthening our credit risk management systems."