Greece-based Attica Bank selects Profile Software’s risk management system RiskAvert

By Megha Bhattacharya

Financial solutions provider Profile Software today announced that Greece-based Attica Bank has selected the former’s risk management system RiskAvert. The Bank will leverage the solution for boosting regulatory capital calculation, liquidity risk indices as well as XBRL validation and reporting.

Recently, Profile Software announced the release of its new updated version of RiskAvert 3.0 in a bid to cater to the increasing needs of the industry in the areas of Capital Adequacy and Risk regulatory framework. The solution has been updated to deliver enhanced risk management services. The solution’s upgraded User Interface is fully responsive and customisable, using technologies like CSS3 and HTML5, enabling users to securely access all functions remotely and from any device.

RiskAvert aims to help banks calculate the regulatory capital adequacy and produce reports under the current EBA requirements in an integrated and modular environment. The solution provides a comprehensive cube-based MIS reporting engine that fully supports Market disclosure requirements, (Pillar III). It also supports the completely automated and functionality-rich dispatch of regulatory reporting covering XBRL taxonomies under the current EBA reporting framework and ensures submission in XBRL format of COREP, FINREP (IFRS & GAAP), IP Losses, Large Exposures, Leverage, Asset Encumbrance, Additional Monitoring Tools, Liquidity, Funding plans and supervisory benchmarking portfolios.