News & Press
The Jonah Group successfully delivers credit risk modeling software enhancements to Algorithmics
Toronto, July 27, 2007 - The Jonah Group have announced today that they have completed a series of enhancements to the CreditVantage Network platform within Algo CreditVantage, a web-based credit risk modeling product designed and developed by Algorithmics, which provides users with a single point of access to a broad spectrum of credit models, analytics and data.
Yuval Bar-Or, Head of Market Strategy and Business Development at Algorithmics, said, ‘This is the first Algo CreditVantage development to involve The Jonah Group. Their professionalism and quality of work enabled this project to be completed within budget and ahead of schedule, and we look forward to continuing to work with them in the future.’
Jeremy Chan of The Jonah Group said, ‘We would like to thank Algorithmics for their trust in assigning us to develop their product, which has now been deployed into production. We look forward to developing this new relationship further’
The Jonah Group has been retained for the next release of Algo CreditVantage.
Notes to Editors:
Algorithmics is the world's leading provider of enterprise risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group.
Algo CreditVantage provides functionality to make credit analysis more efficient and comprehensive, including charting of model output over a defined time horizon, scenario analysis capabilities, and alerts that identify companies with significant changes in credit risk profile. This offering helps subscribers, including banks, insurance companies, asset managers and corporates, to analyze borrower and counterparty credit quality, benchmark internal ratings and risk estimates against a proven model, make lending, pricing, securitization, investing and hedging decisions and manage the credit portfolio.
Fitch Group is the parent company of Fitch Ratings, a global rating agency dedicated to providing the world's credit markets with independent and prospective credit opinions, research and data. The Fitch Group also includes Derivative Fitch, an independent provider of a suite of ratings and comprehensive services for the credit derivatives market; Algorithmics, the world's leading provider of enterprise risk solutions; and Fitch Training, which offers high-quality analytical training for financial professionals. The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France. For additional information, please visit www.fitchratings.com www.algorithmics.com www.fitchtraining.com and www.fimalac.com
The Jonah Group is a team of software experts skilled in the design, construction, and management of web-based enterprise systems. Jonah has successfully developed and deployed a wide range of enterprise systems including online banking applications, equity and mutual fund trading systems, credit adjudication and provisioning portals, health care benefits and claims management systems, and fleet management solutions. Their clientele includes many leading names in the financial services and health care industries.
