Kamakura Corporation has chosen global software company Zylog Systems as a distributor for its Kamakura Risk Manager enterprise wide risk management system in India and the rest of South Asia.

The Kamakura Risk Manager (KRM) system analyses market risk, credit risk, asset and liability management, funds transfer pricing, and liquidity risk in a single integrated solution. The KRM system is also used for Basel II capital calculations and to meet the requirements of key accounting standards regarding hedge accounting (FAS 133 and IAS 39) and the valuation of complex structured finance instruments (FAS 157), says the vendor.

Warren Sherman, Kamakura president and chief operating officer, comments: “Kamakura's risk consulting, risk management information, and risk management software can provide sophisticated institutions in South Asia with the tools to avoid the kind of losses that have affected many institutions world-wide in the current credit crisis. Zylog's outstanding track record makes Zylog a wonderful partner for Kamakura.”

Sudarshan Venkatraman, chairman and CEO at Zylog Systems, adds: "Zylog believes that the flexibility and power of the KRM system is perfect for the rapidly growing financial services sector in South Asia. Bank CEOs are interested in best practice risk management, and Kamakura is synonymous with 'best practice.' The current credit crisis has exposed the weaknesses of legacy risk systems and silo oriented risk management."

Suresh Parthasarathy, director at Zylog Systems Asia, continues: "Zylog is well established with banks in this region. Their needs for risk management solutions are tremendously increasing, and this partnership will position us as a serious player in risk management. Kamakura's powerful KRM system provides a fully integrated and totally transparent view of risk that South Asian institutions need."