Isracard Implements FinArch's Financial Studio for Basel II
Isracard, an Israeli credit card company, has implemented Financial Architects’ solution as a platform to calculate the Isracard Group’s capital management requirements.
Isracard initiated a software evaluation project in 2008 and selected FinArch’s Financial Studio solution, which ensures compliance with the Basel II regulation under Pillar I, Pillar II and Pillar III. Financial Studio provides an integrated capital and risk management solution that delivers support for enterprise-wide credit, market, and operational risk management, ensuring compliance with external regulations.
Rami Shpayer, operation department manager and chief risk controller at Isracard, said: “Financial Studio is calculating and reporting the required capital needed and the capital adequacy according to Basel II. Currently, the report is structured according to the European CoRep regulations. We look forward to proceeding with this successful collaboration in line with definitions and specific structures as specified by the Bank of Israel.”