Mr. Samir Safa, Chief Information Officer of Dubai Bank stated: "The key benefits that we identified from IRIS AG are the extensive professional expertise the team is able to provide in this field combined with the flexibility of the riskproâ¢ system."
"Islamic Banking is one of the fastest growing areas within the global financial markets, and one that Dubai Bank is currently considering to enter. Having a robust ALM infrastructure is a key component of managing the Bankâs balance sheet in an Islamic Banking environment. The flexibility and analytical capabilities offered by riskproâ¢ mean that we can bring world class expertise to the management of the Bankâs balance sheet including the handling of current and future Shariâah compliant products" stated Mr. Biswajit Kamal Dasgupta, Treasury Head, Dubai Bank.
Dr. Juerg Winter, Chief Executive Officer of IRIS AG said: "IRIS is proud to count Dubai Bank, a young but fast growing and very successful bank, to our customer base and we look forward to contributing with our experience and the riskproâ¢ analysis technology to the effectiveness, transparency and financial decision support capabilities of this innovative Bank."
Since its launch in September 2002, Dubai Bank has challenged traditional banking practices by placing service, transparency and convenience at the forefront of its operations by introducing unique products and services to the market. By bringing a breath of fresh air into the UAEâs financial sector, Dubai Bank has firmly positioned itself as a catalyst for change. Through its inventive approach to banking and unparalleled range of banking products and services, Dubai Bank has soundly established itself as an icon of Dubaiâs success, dynamism, and excellence â with a brand name and identity that is tantamount to modernity, pro-activeness, openness, innovation, and transparency.
Recognizing that its investment in the consumer is the cornerstone of its growing success and exclusivity, Dubai Bank has energetically extended itself to be a premium full-service provider of financial products and services, innovatively constructed and differentiated in their delivery to provide superior service to consumers.
Dubai Bank offers a multitude of products and services through its Corporate & Consumer banking divisions. These include credit cards, wealth management services, transaction and deposit accounts, loans, trade finance, treasury services as well as a host of merchant banking services.
IRIS integrated risk management AG, formed in 1992 in Zurich, has its headquarters in Switzerland. It continuously develops, maintains and supports its riskproâ¢ financial analysis infrastructure out of Switzerland since 1997. Selling, implementation and consulting are executed worldwide directly by IRIS AG and indirectly in cooperation with a number of partners such as Accenture, Atos Origin, d-fine, NCR Teradata Financial Services, Tata Consultancy Services, etc.
riskproâ¢ enables financial organizations to measure and monitor risk and profitability enterprise-wide with a single cost effective integrated analysis infrastructure. riskproâ¢ covers ALM, market and credit risk analytics including Exposure Analysis, Value at Risk, Funds Transfer Pricing, Dynamic Simulation, Basle I and II, Risk-Adjusted Performance Analysis, IFRS 39, etc. These analyses cover all financial products, from saving accounts to exotic options, for any type of accepted valuation method. The underlying universal contract-centric data model and calculation engine of riskproâ¢ ensures precision and consistency in all results. riskproâ¢ is so an ideal and easy way to implement Basle II as a first step for a cost effective integrated financial analysis infrastructure. It is currently being used or in implementation in over 200 small to large financial organizations in 15 countries.