Credit Risk Systems Pty Limited today announced that the company will be known as Vector Risk with effect from August 17, 2009.
Vector Risk is an industry recognised leader in risk engine design which is encapsulated in the BoundaryRider product. "We believe the new name better communicates the company’s mission of providing vectorised solutions for financial markets risk." said Justin Taylor, managing director, Vector Risk. “While the company’s initial focus was credit risk we soon found that the technical breakthroughs we made could also be applied to solving market risk performance issues”, he continued. This was highlighted by the recent implementation of BoundaryRider in a major Australian bank to provide market risk support in their Equities business.
Changing the company’s name marks an important milestone. The renowned high performance computing team at Vector Risk, led by Dr Robert Bursill, have been pioneering the application of scientific computing techniques in risk engine design for several years. These techniques optimise the use of each processor in a cluster to deliver exceptional computational speed.
BoundaryRider couples this extraordinary speed of performance with a componentised architecture which allows the system to be targeted at specific areas in bank’s financial markets operations thereby providing a quick and inexpensive resolution to Risk related performance issues.
Justin Taylor added, “BoundaryRider is a truly unique and versatile risk management solution for financial institutions and we believe the new company name now captures the essence of our product offering.”
