Zylog Systems Limited has signed an exclusive partnership with Honolulu-based Kamakura Corporation for marketing and implementing the Kamakura Risk Manager enterprise-wide risk management system for South Asia. Zylog Systems is a global software company, with a US headquarters in Edison, New Jersey. Zylog works extensively with major banks in India through its offices in Chennai, Mumbai, and New Delhi. The Kamakura Risk Manager (KRM) system is the world’s first risk system that analyzes market risk, credit risk, asset and liability management, funds transfer pricing, and liquidity risk all in a single integrated solution. The KRM system is also widely 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).

“One of the reasons Kamakura and Zylog have made this joint commitment in South Asia is the skill and creativity of the financial services community in the region,” said Dr. Donald R. van Deventer, Kamakura Chairman and founder. “From Russia to China, we’ve found that the smartest finance and IT professionals are the quickest to move to best practice in risk management, and we expect that to be true in South Asia as well. We are eager to help South Asian financial services community avoid the mistakes of those who lost billions in the current credit crisis because of their reliance on primitive legacy risk management systems.”

“Kamakura’s 185 clients span 27 countries,” said Warren Sherman, Kamakura President and Chief Operating Officer. “We are very pleased and honored to partner with Zylog to bring best practice in risk management to South Asian countries. 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.”

“Zylog believes that the flexibility and power of the Kamakura Risk Manager system is perfect for the rapidly growing financial services sector in South Asia,” said Sudarshan Venkatraman, Chairman and Chief Executive Officer at Zylog Systems. “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 said “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.”

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