Vancouver, BC – February 9, 2016 – BlackIce Enterprise Risk Management (“BlackIce”)(CSE: BIS) is entering the User Acceptance Testing phase of the Basel Solution project at VIB (Vietnam International Commercial Joint-Stock Bank) in Vietnam. BlackIce’s RWA Calculator is the first fully SBV (State Bank of Vietnam) compliant calculator implemented at any bank in Vietnam. The final implementation will be completed under the supervision of the SBV, which will further validate BlackIce’s ERA solution and enhance BlackIce’s ability to close several other orders in Vietnam.
Judy Kalyan, BlackIce CEO said, “This newest version of the BlackIce RWA calculator will be one of the first implementations of the new Basel revised Standardized Calculations anywhere in the world and will set the benchmark for excellence in Basel Implementations in the Vietnam market.”
In addition to all of the required Regulatory reporting, the VIB implementation of ERA supports extensive Risk Management reporting.
BlackIce is well positioned in the market as all Vietnam banks will look to secure and develop an automated Basel/RWA calculation process in 2016. Judy Kalyan said, “The majority of banks in Vietnam have yet to procure Basel compliance solutions to meet emerging SBV Basel compliance, and there is a significant opportunity for the VIB project to be the first of many ERA clients throughout the next year.” The BlackIce / HPT / IBM partnership has been very successful and BlackIce looks forward to working with these and other strategic partners as we move forward in the Vietnam market.”
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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