VIB, HPT cooperate to deploy Basel II Standardised Solution

As one of the 10 banks selected by the State Bank of Vietnam (SBV) to implement Basel II – a set of international banking regulations for capital adequacy, based on credit risk, market risk and operational risk, VIB has decided to choose HPT as the local partner to implement the “Basel II Standardised Solution” of BlackIce Enterprise Risk Management Inc. With this project launch, VIB expects to fully meet the SBV’s requirements for Basel II Standardised capital by the end of 2015.

The Basel II Standardised Solution, called BlackIce ERA, implemented by HPT, is a compliant and working solution that is capable of integrating data in a logical manner from source systems, performing the necessary calculations and analytics and then populating reports required for Basel II as well as overall best practice risk management analytics. Hence, this is an open platform software application that not only delivers end-to-end data and analytical standards to meet all of the regulatory expectations of Basel II but also helps VIB to take advantage of advanced measurement approaches of Basel II.

Applying Basel II is an important and positive step for VIB, which is also compliant with regulation of the SBV with respect to risk management. The successfully implemented VIB - Basel II Standardised Solution will provide VIB with an international- standard best practice risk management framework.

“It is our great honor to help VIB break the ice with a powerful framework and calculator, serving their risk assessment performance under Basel II standards. We commit to invest time, resources and make every effort to make sure this project will succeed, supporting VIB to remain one of the most prestigious banks in Vietnam,” Nguyen Viet Anh, vice director of HPT Application Solution and Service Center (HAS), said at the ceremony.

Founded in 1996, VIB now has the highest credit strength rating in Vietnam, having recently been upgraded by Moody’s to a positive outlook. As of mid-June, VIB had total assets of nearly VND80 trillion ($3.7 billion).

Founded in 1995, HPT provides IT services from infrastructure, integration to application software solution. Canada-based BlackIce Enterprise Risk Management Inc is a global risk management consulting and technology firm, having been part of numerous Basel implementations and risk management engagements around the world.