Case Studies

Piraeus Bank Addresses XVA Requirements with Quantifi’s Single Solution

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Piraeus Bank (Piraeus) is the largest bank in Greece, in terms of assets, and is considered the most innovative in the Greek market. Headquartered in Athens, with 18,500 employees across 8 countries, Piraeus Bank Group offers a full range of financial products and services to approximately 5.6 million customers. Total assets of the Group amounted to €82.2 billion, net loans to €48.3 billion and customer deposits to €39.3 billion on September 30, 2016.

Requirements

To keep pace with market conditions and ensure compliance with stringent regulation, Piraeus recognized the need to adapt their existing risk analytics infrastructure to enhance interoperability with other core systems and align front, middle and back office functions. Senior management also wanted to improve risk control, reduce operational inefficiencies and optimise total cost of risk by streamlining processes, IT and operating models.

Selection Process

Quantifi was selected after an extensive selection process of the most advanced and established enterprise-risk technology providers. Following a detailed RFP process, Quantifi was shortlisted for the proof-of-concept phase (POC). The POC was for Quantifi to demonstrate the depth, flexibility and performance of its solution and ability to deliver a smooth implementation.


 



 

 

Quantifi is a robust, light weight, and flexible XVA solution, which was integrated smoothly and swiftly with our internal systems and process. We trust that this new partnership with Quantifi will help Piraeus fulfil the challenging current and future regulatory requirements.” 

Christos Arvanitis,
Head of Middle Office and Valuations Department

 

 


 

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