VANCOUVER, BC / ACCESSWIRE / March 30, 2016 / BlackIce Enterprise Risk Management (CSE: BIS) ("BlackIce") announces the implementation of the Basel II Project utilizing the BlackIce Enterprise Risk Aggregation (ERA™) solution with the Vietnam International Commercial Bank (VIB).
The contract was awarded in October 2015 and BlackIce management have now successfully installed the solution, which includes regulatory and economic capital calculators, regulatory and management reporting, and stress-testing. The implementation was administered together with HPT Vietnam Corporation (HPT) - a local systems integrator, and IBM who supplied their Cognos and Infosphere products. The State Bank of Vietnam (SBV) will soon be announcing their finalized Basel Compliance guidance and as such BlackIce anticipates further business from Vietnamese banks with this success.
Judy Kalyan, BlackIce CEO and Chairman, said "VIB is our first customer to implement ERA in Vietnam and we are delighted that it has been a great success. VIB now has a robust risk-management solution. We will now build on this achievement and look forward to implementing similar solutions based on our ERA platform with other banks who have been eagerly watching the progress of this project. The banking risk arena is becoming increasingly important during 2016 as the State Bank of Vietnam advocates greater compliance from all banks, which provides BlackIce and our partners with a great opportunity".
BlackIce Enterprise Risk Management Inc. (BlackIce) Enterprise Risk Data Aggregation (ERA) solution gives banking executives supreme confidence in risk decision-making and compliance with a single source for all risk data and a dynamic analytic and reporting platform.
About BlackIce Enterprise Risk Management Inc.
BlackIce is a global enterprise risk management technology firm delivering practical solutions for problems that global banks face every day.
BlackIce has developed an Enterprise Risk Aggregation (ERA™) solution, an open platform software application that delivers end-to-end data and analytical standards to meet all of the regulatory expectations of Basel (I, II & III) as well as the BCBS Risk Data Aggregation & Reporting (RDA) requirements, and the FSB (Financial Stability Board) Legal Entity Identifier program for monitoring concentration risk.
The company's Governance & Compliance Database (GCD™) is an application that allows financial institutions to assess, govern and manage adherence and compliance to regulatory guidelines across multiple regulatory requirements including: Basel II/III; Living Wills; Risk Data Aggregation and Financial Stability Oversight.
For more information about BlackIce Inc., and ERA™ visit www.blackiceinc.com.
BlackIce Enterprise Risk Management Inc.
Judy Kalyan, Director and CEO
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of BlackIce Enterprise Risk Management Inc. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Forward looking statements in this press release include that we expect to sign sales contracts in Vietnam in the near future. The forward looking statements can be affected by competitors' products, customers determining to delay purchases or not purchase at all, customers not having sufficient funding to purchase, and the possibility of technical or other issues with our software solutions. Orders that are made can be cancelled. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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SOURCE: BlackIce Enterprise Risk Management