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Sberbank teams up with Numerix to deliver IT system solution

First Published 22nd June 2017

Sberbank has integrated Numerix's risk and analytics to complete bank-wide automation of financial market risk management system.

Steve O’Hanlo, Numerix

Steve O’Hanlo, Numerix

New York - Numerix, the provider of risk technology has announced a collaboration with Russian bank Sberbank, and the successful implementation of its bank-wide technology program focusing on automating its financial market risk management system.

As part of the multi-year project, Sberbank built a technology platform which included IT systems and modules allowing the management of various types of risks, namely credit and market risks. The platform was created with the use of distributed computing technologies like GridGain, nonrelational databases, such as MongoDB and Cassandra, and other modern technologies.

As part of the project Sberbank utilizes Numerix analytics as a consolidated XVA solution across the bank. Numerix analytics and Numerix CVA are leveraged to calculate, analyze and limit exposures exotic for complex deals as well as XVA management for front office needs and pre-trade calculations, such as incremental CVA and FVA.

Steve O'Hanlon, Chief Executive Officer of Numerixsaid: "With Numerix CrossAsset and CVA underpinning its analytics infrastructure, Sberbank is driving towards a more open, fintech oriented, digital financial services market for itself and its customers."