Praxia bank Selects Moody’s Analytics Software for Regulatory Reporting and Risk Management
NEWS | For Immediate Release
LONDON, June 11, 2019 – Moody’s Analytics, a leading provider of financial intelligence, has announced that Greek digital bank, Praxia bank, has selected the Moody’s Analytics suite of regulatory solutions for asset liability management (ALM), IFRS 9, and Basel III compliance.
Praxia bank will use the Moody’s Analytics RiskFoundation™ platform to consolidate and centralize risk management data across its organization using one solution. The award-winning platform delivers a standardized single point of control for performing risk analysis and regulatory reporting tasks, enabling the bank to best utilize its IT investment and execute a consistent enterprise-wide risk management strategy.
Praxia bank will also use the award-winning Moody’s Analytics RiskConfidence™ solution for IFRS 9, and ALM and liquidity risk management. The integrated solution will allow the bank to efficiently cover ALM and liquidity risk.
For Basel III compliance, Praxia bank has selected the RiskAuthority™ software, a comprehensive solution covering data management, regulatory capital calculations, and supervising reporting requirements. Its embedded Basel III calculation ratios and automated workflow processes will enable the bank to deliver efficient and streamlined Basel III compliance while leveraging the automation the solution affords.
“Working with one technology vendor brings significant advantages from an implementation and operations perspective,” said Thanos Papanikolaou, Chief Risk Officer at Praxia bank. “In view of our launch in Greece, we have proudly selected Moody’s Analytics to be our strategic partner. Its platforms allow us to efficiently monitor and manage risk, as well as support the various – and evolving - compliance and regulatory guidelines.”
“As banks globally look for ways to extract value from their regulatory technology investment, there is increasing demand for solutions that enable financial institutions to create synergies between compliance and business optimization,” said Andy Frepp, General Manager at Moody’s Analytics. “We look forward to working with Praxia bank to provide regulatory technology that supports their vision while offering a leaner, more agile approach to risk management.”
Click here to learn more about the Moody’s Analytics suite of regulatory reporting solutions.
About Moody’s Analytics
Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit our website or connect with us on Twitter and LinkedIn.
Moody's Analytics, Inc. is a subsidiary of Moody's Corporation (NYSE: MCO). Moody's Corporation reported revenue of $4.4 billion in 2018, employs approximately 13,200 people worldwide and maintains a presence in 42 countries.
About Praxia bank
Praxia bank was created in 2018 and is expected to fully launch within 2019. Praxia bank is a privately-owned bank with a solid international shareholder structure operating under the supervision of the Bank of Greece. Deposits are protected by the Hellenic Deposit & Investment Guarantee Fund. Praxia bank’s executive team includes talented professionals who bring a wealth of local and international banking experience and share a common vision: to offer a sophisticated banking experience that is more humane and at the same time more digital than ever, to meet the needs of small and medium-sized businesses as well as retail customers.