Profile Software releases updated version of RiskAvert
By Megha Bhattacharya
Profile Software today 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.
Profile Software’s RiskAvert also covers the recently enforced rules under the “Covid-19 measures package” on the preferential treatment of exposures to SMEs, EU – Central Governments & Central Banks, Retail pensioners, as well as exposures eligible to be classified as related to high-quality infrastructure projects. The updated system supports new functionality on risk versus accounting data reconciliation that gives users the opportunity to easily compare accounting data with raw risk data input for the calculation process, identify and justify potential differences.
Profile Software stated that the latest release of RiskAvert also accommodates the Basel III securitisation framework, including the Securitisation Regulation and the Securitisation Prudential Regulation, the EBA regulatory reporting as well as the quantitative self-assessment reports of risk transfer (i.e. First Loss and Commensurate Risk Transfer Test).
The system has been enhanced with reporting and analytics capabilities through its connectivity with B.I. tools for an in-depth analysis of calculation output results according to the key dimensions and parameters that affect capital requirements.
Recently, Profile Software announced the establishment of its wholly-owned subsidiary “Profile Technologies SA” in Thessaloniki, Greece. The company has a committed investment plan in excess of €5 million for the next 3 years and aims to become a model technology firm delivering innovation in Greece.
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