Allied Irish Bank (AIB) is implementing technology from Asset Control to centralize risk management operations at its global treasury division in Dublin. The platform, based on Asset Control’s AC Plus data management framework, will manage foreign exchange, fixed-income and derivatives data sourced from both internal systems and external suppliers.
AIB will use the system, which will integrate with Asset Control’s AC Contour risk management application, to centralize pricing data and curves for risk management. AIB managers and analysts will be able to create risk factors by converting data into curves, surfaces, volatilities and covariance matrices in support of risk management and portfolio evaluation and pricing.
The Asset Control data platform was installed in Dublin during a five-week implementation. It has passed initial user acceptance testing, and now serves as the platform on which further customizations can be made by AIB, with Asset Control providing support. AIB expects to be in production with the full solution by September 2006.
Remote users, meanwhile, in New York, Poland and London, will access the solution via Asset Control’s AC Desktop.
The win is the latest in a string of client orders for Asset Control, with several involving the risk management operation of major banking institutions.