QuIC Financial Technologies

QuIC Financial Technologies

June 11, 2009 10:00 ET

QuIC Announces Two Key Clients Successfully Obtain IMM Approval

QuIC's Industry Expertise and Risk Management Technology Accelerate IMM Approval Process

VANCOUVER, CANADA--(Marketwire - June 11, 2009) - QuIC Financial Technologies Inc., a leading global solutions provider of risk management, pricing and financial analytics solutions, is pleased to announce that two clients have obtained Internal Model Method (IMM) approval from their regulator, further reinforcing QuIC as the partner of choice for leading banks who seek rapid and successful compliance to important regulations.

"It has been QuIC's focused strategy to invest in our dedicated team of Financial Engineers and risk experts to complement our technology. We're now uniquely positioned to offer banks extremely valuable insight and help in quantifying their risk to obtain IMM approval." stated Nigel Cairns, President and CEO of QuIC. "We are now leveraging the expertise and insight gained from assisting these two clients to help other clients gain approval."

Drawing on QuIC's expertise in helping clients meet industry regulations, and combining it with access to the highest performance risk management tools to calculate model valuation and Counterparty Credit Exposure, QuIC has established many working relationships with banks helping them meet important regulations.

Banks are facing increasingly rigorous credit risk and exposure demands, and are now looking to obtain IMM approval as part of their overall risk management strategy to better understand their exposure risks and capital requirements. In recognition of our client's need of assistance both implementing and executing a successful IMM strategy, we are providing the necessary services to support model validation, documentation, back testing and stress testing.

"We witnessed first-hand how the flexibility of our technology provided these two clients the advantage in obtaining IMM approval," added Tony Coppellotti, Chief Technology Officer for QuIC. "Calculating credit risk on a full monte carlo basis for a tier one bank's global book requires the speed of a super computing solution, the stability of a proven risk architecture, and the flexibility to tailor the solution to the client's environment."

For more information about QuIC's IMM experience, please visit www.quic.com.

About QuIC Financial Technologies, Inc.

QuIC is a global solutions provider for risk management, pricing and financial analytics. The QuIC Product Suite features an exceptionally fast vector-based calculation and simulation platform for pricing, risk management and financial analytics. Built with fully open technology, the QuIC Product Suite integrates easily with in-house and partner systems and operates in diverse environments, from a single laptop to large distributed grids. QuIC technology is delivered on a shared calculation fabric available to multiple recipients throughout the enterprise, allowing risk management professionals to collaborate in developing new analytics strategies and technology solutions.

Trademarks

QuIC, the QuIC logo, and QuIC Analytic, QuIC Analytics - XL, QuIC Analyzer, QuIC Engine, QuIC Functions, QuIC Integration, QuIC Links, QuIC Mechanics, QuIC Network Engine, QuIC Platform, QuIC Product Suite, QuIC Publisher, QuIC Script, QuIC Simulation Framework, QuIC Run, QuIC View, and QuIC Workbench product names are trademarks of QuIC Financial Technologies Inc. or a licensor in Canada, the United States and/or other countries.

Contact Information

  • Press Contact
    QuIC Financial Technologies Inc.
    Julie Zuzek, Director of Marketing and Communications
    +44 (0)20 7562 4570
    +44 (0)20 7562 4571 (FAX)
    julie.zuzek@quic.com