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NORD/LB selects Fernbach's FlexFinance Analytix Liquidity Reporting solution
Jul 03, 2009 (Datamonitor via COMTEX) --
Fernbach-Software, a provider of financial software solutions, and Norddeutsche Landesbank Luxembourg have concluded a contract for the solution, FlexFinance Analytix Liquidity Reporting.
Fernbach has said that Norddeutsche Landesbank (NORD/LB) Luxembourg decided to add the software FlexFinance Analytix Liquidity Reporting from the company, developed for liquidity risk management in banks, to its existing solutions.
Fernbach has also said that NORD/LB Luxembourg, which is a sub-group of three independent financial institutions, will use FlexFinance Analytix Liquidity Reporting to manage liquidity risks in the three companies and the sub-group. Liquidity trends and liquidity options will be analyzed for all companies on a daily basis under several scenarios, including stress scenarios and then compared to the set limits.
The results will be generated automatically in the form of reports and disseminated within the companies and group reports will be compiled automatically on a daily basis by FlexFinance Analytix Liquidity Reporting, added Fernbach.
According to Fernbach, the service-oriented architecture of this software solution allows integration into the existing risk environment at NORD/LB Luxembourg. Existing systems and structures can be incorporated into the new liquidity management component without difficulty because of its open architecture.
Alexander Groling, head of risk management at NORD/LB Luxembourg, said: "We have been working with Fernbach for a few years now. We decided to buy the new risk management solution, to optimize liquidity reporting processes, minimize operational risk and remain competitive, particularly during this financial crisis. Our vision is to provide reports according to the logic described above also for other risk components."
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