Celent ranks Algorithmics as leader for Basel II credit risk management solutions

Toronto/London - May 6, 2008 -

Algorithmics has been ranked as a leader for its Basel II credit risk management solutions in a new vendor ranking from Celent, the research and advisory firm.

Celent's research, entitled Beyond Basel II: Evaluating the Financial and Credit Risk Solution Vendors 2008, assesses offerings from ten key vendors and examines the state of the market for risk management solutions and the innovative vendors that are helping institutions transition beyond regulatory basics. Of the four key evaluation criteria, Algorithmics is ranked as a leader in advanced features and technology and among the top of those evaluated for its depth of client services. These rankings recognise the sophistication of Algorithmics' advanced economic capital frameworks and its global footprint of reference clients.

The report describes Algorithmics as "maintaining a leadership position as a risk specialist, with an integrated approach across market, credit and operational risk, strong financial engineering capabilities, customised rating models and credit analytics, and verticalised offerings for different user groups (treasury, hedge funds, credit control functions, collateral operations, etc) … with services combining not only risk analytics, models and software but also ASP options for delivering credit risk advisory services and industry level data pooling services."

Looking at the progress of Basel II implementations, Cubillas Ding, Celent senior analyst and author of the report, says: "There are lessons to be learned from first-wave projects. From an IT perspective, data quality issues, technology integration challenges, and adaptability of risk management systems are often cited as concerns in realising the full benefits of risk initiatives. Technology considerations and the solutions adopted stand as major underpinnings in realising success."

Ben De Prisco, Senior Vice President, Algorithmics, added: "We are working with several organisations whose Basel II programmes have gone far beyond compliance to helping them really understand and manage their risk in a way that benefits their businesses. For Algorithmics, this is always our goal as we see enterprise risk management as a fundamental driver of value creation."

For further information please contact:
Heather Smith, Senior Communications Manager, Algorithmics (UK) Ltd
Direct line +44 (0) 20 7392 5820 Mobile +44 (0) 7515 974223
E-mail Heather.smith@algorithmics.com

Notes to Editors:

About Celent
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. www.celent.com

About the research
Beyond Basel II: Evaluating the Financial and Credit Risk Solution Vendors 2008 uncovers market trends in risk management, as well as broader capital planning and financial analysis practices. It also examines the solution aspects of financial and credit risks, as well as implementation lessons in the context of Basel II related initiatives. This report is intended to be a guide for institutions who are planning their risk initiatives, implementing risk management solutions, or migrating their businesses to the new Basel II regime. The 75-page report contains 21 figures and 20 tables. The vendors analysed in detail include: Algorithmics, Fermat, Financial Architects, IRIS, Oracle/Reveleus, Misys Almonde, QRM, SAP, SAS, and SunGard.

Algorithmics is the world's leading provider of enterprise risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group. www.algorithmics.com

Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings' global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London.

The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of enterprise risk solutions.

The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France. For additional information, please visit www.fitchratings.com www.algorithmics.com and www.fimalac.com

© 2008 Algorithmics Software LLC. All rights reserved. ALGO, ALGORITHMICS, Ai & design, ALGORITHMICS & Ai & design, KNOW YOUR RISK, MARK-TO-FUTURE, RISKWATCH, ALGO ALM, ALGO COLLATERAL, ALGO CREDIT ADMINISTRATOR, ALGO CREDIT DATA SERVICES, ALGO CREDIT ECONOMIC CAPITAL, ALGO CREDIT EXPOSURE, ALGO CREDIT LIMITS, ALGO CREDIT REGULATORY CAPITAL, ALGO CREDITVANTAGE, ALGO ETREASURY CREDIT, ALGO FIRST, ALGO MARKET ANALYTICS, ALGO OPDATA, ALGO OPVAR, ALGO RECONCILIATION, ALGO RISK, ALGO RISK SERVICE, and ALGO SUITE are trademarks of Algorithmics Trademarks LLC.

Press Contact

Heather Smith
Senior Communications Manager
Tel:  +44 (0)20 7392 5820
Mobile: +44 (0) 7515 974 223
Fax: +44 (0)20 7395 5701
email: Heather.Smith@algorithmics.com