Vancouver, BC – October 19th, 2015 – BlackIce Enterprise Risk Management Inc. (BlackIce) announces the sale of its Enterprise Risk Aggregation (ERATM) solution to the Vietnam International Commercial Joint-Stock Bank (VIB). BlackIce will implement the ERA solution at VIB over the coming months to achieve State Bank of Vietnam (SBV) Basel compliance. BlackIce is implementing a comprehensive version of ERATM at VIB including regulatory and economic capital calculators, regulatory and management reporting, and stress-testing. BlackIce has partnered with HPT Vietnam Corporation (HPT), a local systems integrator, and IBM for this project. VIB will receive a bundled solution with BlackIce ERATM and IBM’s Congos and Infosphere products.
Judy Kalyan, BlackIce CEO and Chairman, said “As the first ERA customer in Vietnam, VIB will be a showcase of BlackIce ERA for the rest of the market, demonstrating a robust risk management framework and supporting solution”. She said, “As the majority of banks in Vietnam have yet to procure Basel compliance solutions necessary to meet emerging SBV Basel compliance, there is a huge opportunity for the VIB project to be the first of many ERA clients throughout the next year.” “BlackIce will continue to remain very active in the Vietnam market as Basel compliance initiatives at banks increase from now until next summer. BlackIce looks forward to working with HPT, IBM, and other strategic partners as we move forward.”
The BlackIce Enterprise Risk Data Aggregation 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 regulatory expectations of Basel II/III, as well as the Basel Committee on Banking Supervision (BCBS) Risk Data Aggregation & Risk Reporting (RDA) requirements, and the 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 from across multiple regional areas and various BCBS guidelines (e.g., Basel II/III; Corporate Governance, RDA, etc.).
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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