Epirus Bank selects Profile Software’s RiskAvert for comprehensive risk management

By Gaia Lamperti

Profile Software, an international financial solutions provider, announced today that Epirus Bank in Greece selected its risk management solution RiskAvert, to better comply with the European Regulatory Framework for capital adequacy in the areas of Credit and Operational Risk, Liquidity Risk and Large Exposures.

Founded in 1993, Epirus Bank is the evolution of Credit Cooperative Bank, forming a developing cooperative bank in the Northern part of Greece, and receiving the acknowledgement of both the local community and the accreditation of the Bank of Greece.

The bank demonstrates dynamic growth across the Epirus Region aiming at becoming a strong regional bank offering high quality and faster results to its customers and a pillar of growth of the local economy and community. With this vision in mind, the selection of RiskAvert was crucial towards achieving better business practices to offer compliance with the regulatory framework, automating their processes of capital calculation and report production.

At the same time, the use of RiskAvert, Profile’s advanced and reliable system, will enable them to converge business practice with supervisory requirements, thus allowing them to save time and resources, substantially strengthening the banks’ effort to become a key player in the wider area.

Following a thorough research and vendor evaluation, the bank selected RiskAvert among well-known software providers. This selection reflects Profile’s strategy to develop systems that adequately meet market needs, in particular with RiskAvert, to fully adhere to the requirements of growing banking institutions for a complete and reliable solution in an ever-evolving demanding marketplace, which helps them achieve improvements in crucial elements of their operations, by being compliant with the Basel framework.

RiskAvert is a market-proven and flexible platform that comprehensively covers the capital requirements calculation (Credit, Operational, Liquidity and Concentration Risk, Pillar II & III) and generates reports according to the requirements of the regulator, thus becoming the ideal tool for successful management of capital adequacy.

Profile’s risk management team has long-standing experience and a proven track record in efficiently delivering highly demanding, compliance-focused implementations on time and within budget in leading banking institutions. This comprehensive solution combined with the specialisation and experience of the Profile’s team guarantees complete satisfaction and coverage of the requirements and needs of the bank.