ALCHEMY RISK MANAGER GOES LIVE AT MCB
20th August 2005
Karachi, Pakistan - Alchemy Associates
/ Alchemy Technologies today announced that its Alchemy
Risk Manager implementation went live at MCB on August
20th, 2005. MCB signed up Alchemy Associates for a review
of Middle Office function and implementation of Alchemy
Risk Manager on May 11th, 2005. Alchemy delivered 4 incremental
releases starting 10th June 2005 and went live within
3 months of contract signing.
Alchemy Risk Manager is a Basel II complaint enterprise
risk solution which offers additional features such as
treasury and risk adjusted return calculator, derivative
pricing engine, derivative risk management, interest rate
simulation model, value at risk estimators, portfolio
benchmarking and back testing tool kit.
Jawwad Farid, Chief Executive of Alchemy Associates /
Alchemy Technologies, commented on the event. “I
believe with MCB’s continuing and ongoing support
we have a delivered a solution meeting international standards
and flexible enough to handle eccentricities embedded
in domestic and regional markets. This is one more important
milestone for us in a relationship with one of our most
valued customers. MCB has always been on the forefront
of technology and system initiators and have stayed true
to that legacy in choosing Alchemy as their Middle Office
provider”.
MCB Bank Limited (formerly Muslim Commercial Bank Limited)
with a balance sheet foot print approaching 5 billion
dollars has been providing banking services in Pakistan
for over 50 years, with above 900 branches, 750 of which
are automated.
Alchemy Associates / Alchemy Technologies is a boutique
risk management and actuarial consulting firm with 20
employees and a growing portfolio of blue chip customers
in Pakistan and Middle East.
-end-
For
additional information about the firm, please contact:
Jawwad Farid /Uzma Salahuddin
Alchemy Associates / Alchemy Technologies
103 – 104 Amber Estate
Main Shahrah-e-Faisal, Karachi 75350, Pakistan
Tel: +92 21 4535712
Fax: +92 21 4546291
Email: jawwad@alchemya.com,
uzma@alchemya.com
Website: http://www.alchemya.com
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