RiskTech gets three new contracts in US

NEW DELHI,INDIA: RiskTech, a Hexaware subsidiary that provides enterprise risk management and risk technology services, today announced that the company has won three new consulting and implementation contracts in the US in the areas of credit and operational risk.

While two contracts are with two of the top 10 US banks, the third one is with a large regional bank there, said a press release.

The first project is in the area of credit risk for Allowance for Loan and Lease Losses (ALLL) and counter-party credit risk. While the second project is in the area of Basel II compliance, the third contract is for an operational risk benchmarking exercise.

"Given the current situation in the financial services industry, financial institutions are seeking focused expertise in risk management with an emphasis on methodology and IT solutions," said Sanjay Gupta, head of RiskTech - North America.

"RiskTech's expertise to move clients from theoretical frameworks to full system implementation is a key differentiator in the US market," he added.

"Recent risk related events in the global financial services market coupled with further regulatory requirements are driving the demand for RiskTech's service offerings," said Peyman Mestchian, CEO, RiskTech.