Thanos Papanikolaou

Greece-based Praxia Bank has selected financial intelligence provider, Moody’s Analytics’ suite of regulatory solutions for Asset Liability Management(ALM), IFRS 9 and Basel III compliance.

The partnership will see Praxia Bank utilizing Moody’s RiskFoundation platform for consolidation and centralization of risk management data across its organization, RiskConfidence solution for IFRS 9, ALM and liquidity risk management, and RiskAuthority software for Basel III compliance.

“Working with one technology vendor brings significant advantages from an implementation and operations perspective,” said Thanos Papanikolaou, Chief Risk Officer at Praxia bank. “In view of our launch in Greece, we have proudly selected Moody’s Analytics to be our strategic partner. Its platforms allow us to efficiently monitor and manage risk, as well as support the various – and evolving – compliance and regulatory guidelines.”

Established in 2018, Praxia Bank is a privately-owned bank with an international shareholder structure operating under the Deposit and Investment Guarantee Fund and the supervision of the Bank of Greece.

“As banks globally look for ways to extract value from their regulatory technology investment, there is increasing demand for solutions that enable financial institutions to create synergies between compliance and business optimization,” said Andy Frepp, General Manager at Moody’s Analytics. “We look forward to working with Praxia bank to provide regulatory technology that supports their vision while offering a leaner, more agile approach to risk management.”

Recently, Praxia Bank announced a partnership with European deposits marketplace Raisin in a bid to expand its deposit offerings through WeltSparen(Raisin’s German deposits platform).

by Megha Bhattacharya
Market Analyst at IBS Intelligence