03:39 PM
Rabobank and Financial Objects to Develop Counterparty Risk Solution
Rabobank, the Netherlands-based financial services firm, announced today that it has selected Financial Objects, an international supplier of software solutions to the financial services sector, for the joint development of a new global counterparty credit risk management system.
The three-phase project will span Rabobank's global capital markets division with over 1,000 and allow users to capture, monitor and report credit exposure and manage collateral operations against global limits.
Rabobank decided to upgrade its entire legacy credit risk management solution, SKY, which was created ten years ago. The firm will migrate to a Microsoft .NET platform and deliver the new system to users through a web portal.
The first phase of the project will see the two companies develop a core platform and is scheduled to complete next summer. The following phases involve further integration and implementation of the Potential Future Exposure analytics module, as well as the development of the reporting functionality and a user interface.