QuIC Financial Technologies

QuIC Financial Technologies

March 30, 2009 10:00 ET

Rabobank Selects QuIC Credit Risk Solution to Optimise Risk Infrastructure

Leading Bank Invests in QuIC to Better Manage Credit Risk; Reinforces Strong Demand for QuIC's flexible Risk Management Solutions

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2009) - QuIC Financial Technologies Inc, a global solutions provider of risk management, pricing and financial analytics, today announced that Rabobank International has selected the QuIC Credit Risk Solution to perform their credit risk exposure calculations.

"We selected QuIC because of their flexible technology and ability to optimise our credit risk calculations," says Paul Howden, Senior Risk Advisor for Rabobank International. "With the flexibility and enhanced functionality we receive with QuIC, being combined with our in-house technology and our existing market risk technology, we have designed a comprehensive, powerful risk management architecture."

Faced with growing demand for more accurate, reliable calculations for credit exposure risk, combined with pending regulatory guidelines for accountability, Rabobank selected QuIC to enhance the management of credit risk across its various market portfolios, providing risk managers with the most complete and transparent view of credit risk exposure.

"We are extremely excited to be working with Rabobank who have recently been ranked as one of the world's safest banks in Global Finance Magazine's 2008 Rankings(i)," stated Nigel Cairns, President and CEO for QuIC. "Rabobank's implementation of our Credit Risk Solution is not only a strong validation of the QuIC Product Suite, but we're confident they'll benefit from our flexible technology and its ability to confidently work alongside their existing market risk solution."

By implementing the QuIC Credit Risk Solution, Rabobank International leverages the power, flexibility and speed of the QuIC Product Suite and the knowledge and expertise of the global QuIC team. Specifically, QuIC will provide Rabobank's risk department with an accurate view of PFE for limit management and the calculation of regulatory capital under IMM.

"Rabobank's strategic decision to replace one component of their risk infrastructure is a new and emerging trend we're seeing in banks faced with limited budgets and constantly increasing standards for conformance and transparency," stated Justin Forrest, Executive VP of Global Sales for QuIC. "QuIC is a logical choice for component replacement because QuIC technology is flexible and scalable enough to work alongside a bank's existing systems, and robust enough to be expanded into other departments within a bank."

QuIC has commenced the implementation at Rabobank International and expects full deployment in 2010.

(i) Global Finance Magazine named the World's Safest Banks through a comparison of the long-term credit ratings and total assets of the 300 largest banks around the world. Ratings from Moody's, Standard & Poor's.

About Rabobank Group

Rabobank Group is a Netherlands based, international financial services provider operating on the basis of cooperative principles with a predominant focus on providing allfinanz services in the domestic market, Internationally the focus lies on food & agriculture. Conditioned by its cooperative roots, Rabobank Group is comprised of independent local Rabobanks, plus their central organisation Rabobank Nederland and its (international) subsidiaries. The organisation has more than 60,000 employees and operates in 43 countries.

Rabobank Group has the highest credit rating, Triple A, awarded by the well-known international rating agencies Standard & Poor's, Moody's and Dominion Bond Rating Service. In terms of Tier I capital, the organisation is among the top twenty largest financial institutions in the world with total assets of EUR 567 billion and a net profit of EUR 1.5 billion in the first half of 2008.

De Lage Landen (leasing and vendor financing), Robeco Group (asset management), Rabo Real Estate Group (real estate management) and Sarasin (private banking) are well-known Rabobank specialised entities.

For more information about the Rabobank Group go to www.rabobank.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.

Contact Information

  • QuIC Financial Technologies Inc.
    Julie Zuzek
    Director of Marketing and Communications
    +44 (0)20 7562 4570 or Mobile: +44 (0)7917 880 525
    +44 (0)20 7562 4571 (FAX)