Xinhua and Fermat bring Basel technology to China
Xinhua Financial, a media company, and Fermat, a risk technology specialist, have signed a deal to provide Basel II software in the world’s fourth largest economy.
The deal will see Xinhua distributing Fermat’s range of Basel II Risk and Performance management software solutions on the Chinese mainland.
Fredy Bush, CEO of Xinhua Finance, says: “At present, most Chinese banks’ Basel II initiatives are still being defined or are in the early planning stages, as the market awaits the China Banking Regulatory Commission’s detailed interpretation of the Accord. We are delighted to ally with Fermat in offering the Basel II risk solution of choice here in China.”
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