SINGAPORE & KUALA LUMPUR, Malaysia--(BUSINESS WIRE)--AFFIN Bank Group (“AFFIN”) and Moody’s Analytics today announced the successful implementation of a robust profit rate and liquidity risk management platform. The installation of the Moody’s Analytics RiskAuthority™ and RiskConfidence™ software platforms also better equips the Bank to manage large exposure risks and improve its business decision making.
“We needed an efficient and flexible asset and liability management (ALM) system as well as reporting infrastructure to manage the increasingly challenging regulatory environment and support the future growth of our business,” said Kamarul Ariffin Mohd Jamil, Group Chief Executive Officer at AFFIN.
The RiskConfidence™ platform combines profit rate risk management and liquidity risk management, while the RiskAuthority™ platform enables advanced analytics of risk with regulatory reporting. Designed to be used together, the RiskAuthority™ and RiskConfidence™ software solutions integrated seamlessly into AFFIN’s existing infrastructure, leveraging extensive automation to increase operational efficiency.
“We’re delighted that AFFIN has selected our software to optimize its risk management and reporting capabilities,” said Pierre-Etienne Chabanel, Managing Director of Product Management at Moody’s Analytics. “By tying risk exposures to capital more effectively, AFFIN is now able to integrate risk-taking decisions into its strategic and tactical decision making.”
“The implementation of these solutions from Moody’s Analytics has further strengthened AFFIN’s risk management capabilities, in line with the recently launched AFFINITY—a strategic transformation program of the Bank Group,” added AFFIN’s Kamarul. “With the ability to perform more frequent and more granular data analytics, we are in a better position to monitor and manage our risk exposures in line with our risk appetite, and to institute early corrective action when required. The end-to-end solution covers our ALM and regulatory reporting needs and also incorporates a large exposure module to enhance managerial control of risk across our business entities.”
For more information about Moody’s Analytics solutions, visit www.moodysanalytics.com.
Affin Bank Berhad (AFFINBANK) is a wholly-owned subsidiary of Affin Holdings Berhad, which is listed on the Bursa Malaysia. AFFINBANK provides a suite of financial products and services that caters to retail, SME, and corporate customers. The target business segments are categorized under key business units such as Consumer Banking, SME & Commercial Business Banking, Corporate & Public Sector Business Banking, and Treasury.
The tagline of “Banking Without Barriers” signifies the removal of boundaries within the processes of AFFINBANK as well as its attitude in servicing its customers. The latter means reaching out to customers, improving relationships with them, making each one of them feel privileged and enhancing a new approach to banking and changing the face of conventional banking.
AFFINBANK also provides Islamic banking products and services via its Islamic banking subsidiary Affin Islamic Bank Berhad (AFFIN ISLAMIC). AFFIN ISLAMIC, a full-fledged Islamic bank, offers a complete range of Islamic Banking products and services which are in compliance with Shariah principles and laws.
About Moody’s Analytics
Moody’s Analytics helps capital markets and risk management professionals worldwide respond to an evolving marketplace with confidence. The company offers unique tools and best practices for measuring and managing risk through expertise and experience in credit analysis, economic research and financial risk management. By providing leading-edge software, advisory services, and research, including the proprietary analysis of Moody’s Investors Service, Moody’s Analytics integrates and customizes its offerings to address specific business challenges. Moody's Analytics is a subsidiary of Moody's Corporation (NYSE:MCO), which reported revenue of $3.6 billion in 2016, employs approximately 10,600 people worldwide and maintains a presence in 36 countries. Further information is available at www.moodysanalytics.com.