FERNBACH - FERNBACH and Intertec accessible Basel II Competence Centre in Dubai and abutting accord with CBI

Luxembourg & Dubai, 27 May 2008 – FERNBACH, a provider of award-winning solutions for Enterprise-wide Value and Risk Management (EVRM), has accustomed a Basel II Competence Centre in Dubai and has been called by Commercial Bank International (CBI) to accommodate its FlexFinance® Basel II solution.

The adequacy centre is a accord amid FERNBACH and Intertec Systems, a FERNBACH accomplice that sells and accouterments FERNBACH’s FlexFinance® EVRM Suite, and provides chump training and abutment casework for software users in the United Arab Emirates and above the Middle East.

The adequacy centre is hosted by Intertec experts that accept been accomplished in FERNBACH’s FlexFinance® articles and can advice abeyant barter to become acquainted with the solutions. In an ambiance that simulates a ‘real’ cyberbanking start-up with foreground and back-office applications.

Claude Melde, Director Indirect Sales at FERNBACH, said, ‘With Intertec as our partner, we are able to access abeyant all-embracing barter application bounded ability and inform, alternation and abutment them. The actuality that our aboriginal chump is a admired academy such as Commercial Bank International proves that our collective abstraction is the appropriate one.’

Commercial Bank International (CBI) is amid in Dubai and is one of the arch banking institutions in the United Arab Emirates. The actuality that CBI agents will be accomplished in the Competence Centre played a acute role in acceptable CBI to opt for FERNBACH and Intertec.

Faris Saddi, CIO at CBI, said, ‘We chose FERNBACH to apparatus an abreast Basel II solution, abundantly because of the absolute accident administration belvedere which provides added than simple Basel II compliance. We aswell accepted the bounded abutment casework for Intertec Systems and the top amount of adequacy apparent by FERNBACH staff. We are analytic advanced to a acknowledged accord in the Middle East.’

FlexFinance® Basel II allows banks to administer accident on a company-wide base while acknowledging with the authoritative requirements of all three pillars of Basel II. The EVRM basic helps accomplish a best acknowledgment on accumulation and provides banks with the agency to accrue all-encompassing advice on risk, amount and revenue. The templates accessible with the software minimise the time for automated abstracts import, abbreviation processing times.

Mr. Bassam Daoud, Head of Credit Risk Management and Advances at CBI, said, ‘Basel II is acceptable compulsatory according to the Central Bank of the UAE. Since the addition of FERNBACH’s Basel II band-aid for Arab countries, accepted and Islamic banks will now acquisition it easier to acclimate to the Basel II requirements, a key account for CBI.’

Naresh Kothari, Managing Director, Board Member and Founder, Intertec Systems, said, ‘We are assertive that the Competence Centre will be a absolute success because banks in the United Arab Emirates and the Middle East will be able to acquaintance a accomplice locally at any time which helps humans to affected any inhibitions they may accept if assuming antecedent interest.’

For added data amuse contact:

FERNBACH-Software S.A.
Emma Connolly (Director of Group Marketing)
1a, Parc d'activité Syrdall
L-5365 Munsbach

Tel.: + 352 / 40 22 44 - 1
Fax: + 352 / 40 22 44 - 310

About FERNBACH:

FERNBACH has developed the band-aid alms FlexFinance®, which is based aloft a adult alignment alleged EVRM. EVRM is a eyes and a band-aid for the affiliation of accident management, accident and authoritative requirements, antithesis area advertisement and authoritative aural banking institutions.

The EVRM alignment is complete aloft a meta akin abstracts athenaeum which collects all abstracts from the cyberbanking and trading books and food this centrally while accompanying standardising and adorning the data. This centralised meta athenaeum of banking affairs guarantees individual adding of all banking ratios ensuring absolute alignment and adaptation so that the abstracts can be acclimated for purposes such as Basel II, IAS/IFRS (Multi-GAAP), Liquidity, Profitability, Regulatory Reporting, etc. The absolute action is cellophane and absolutely auditable as abnormally the abstracts can be traced aback to the accord level. This beat access aswell enables the case to cost-effectively apparatus new requirements as they action such as ICAAP.