The Client
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, Piraeus Bank Group offers a full range of financial products and services to approximately 5.6 million customers.
The Challenge
To keep pace with market conditions and ensure compliance with stringent regulation, Piraeus recognised the need to adapt their 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.
Why Quantifi?
- Consistent risk analytics across front-to-middle office functions
- Transparency of risk exposures which helps minimise portfolio risk
- Ability to carry out pre-deal analysis (both pricing and XVA) on the desk
- Improved performance of their daily XVA and market risk valuations
- Ability to compute XVA sensitivities and XVA Explain (attribution) on a daily basis
- Greater control of daily activities, with full audit trails and permissioned processes
- Advanced reporting for trading, risk, treasury/back office and middle office usage
- Strong data transparency to understand the processes behind observed results
- Flexibility to capture data and report seamlessly
- Enhanced computational performance
“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, Piraeus Bank
The Results
With Quantifi, the bank now has the ability to very effectively meet the challenges of managing Market and xVA Risks and meeting regulatory requirements as Quantifi has brought greater efficiency and agility to the bank’s trading, risk management, treasury and accounting functions.
Download the complete case study to see how Quantifi was able to support the adaption of Piraeus Bank’s risk analytics infrastructure.
