Profile Software, an international financial solutions provider, announced today the successful implementation of RiskAvert, its advanced regulatory capital calculation, liquidity risk, and XBRL validation and reporting platform, at IBG (Investment Bank of Greece) and the successful completion of the recent XBRL submission exercise to the Bank of Greece (EBA Reporting framework 220.127.116.11).
IBG is a leader in investment banking and brokerage services, holding top ranks in mergers and acquisitions, IPOs and SPOs as well as underwriting and debt structuring. Moreover IBG consistently occupies top positions among Greek brokerage houses in transaction volumes and is an undisputed leader in the local derivatives market. Since its establishment in 2000, IBG has transformed and expanded. From 2006 to 2012, IBG was a leader on the Athens Exchange in terms of volume, serving over 250,000 individual, business and institutional investor accounts. The Bank continues to retain its high rank as it expands into other areas of financial business.
The bank selected RiskAvert to address its compliance requirements that pertain to the implementation of a robust efficient and automated risk management platform to manage the calculation, group consolidation and reporting of credit, market, operational and liquidity risk. RiskAvert is continuously being enhanced to incorporate the latest regulatory requirements that enable banks to comply, automate and advance their Risk Management processes.
By deploying Profile’s RiskAvert, IBG is utilising the automated and rich functionality of the system, along with the support of Profile’s team, for XBRL validation and conversion processes. The solution fully satisfies XBRL taxonomies for all regulatory elements under the current EBA reporting framework and ensures comprehensive accommodation of COREP, FINREP (IFRS & GAAP), IP Losses, Large Exposures, Leverage, Asset Encumbrance, Additional Monitoring Tools, Liquidity, Funding plans and supervisory benchmarking portfolios.
Profile’s team has long-standing experience and a proven track record in efficiently delivering highly demanding, compliance-focused projects in SE Europe on time and on budget.