Boston, Toronto, London – 13^th April 2011 – 2011 has seen a resurgence of interest in systems to manage the commercial lending process according to Algorithmics. In particular, Algorithmics has noted a recent increase in interest from US commercial lenders for its credit solutions that manage the full lifecycle of the commercial lending process.

Rory McClure, Senior Director, Credit Solutions, Algorithmics, commented: “We have worked with many institutions around the world to help them better manage their commercial lending and provide them with a single view of their customers. Until recently, the market for our commercial lending solution has been mostly outside the US, in Asia, Europe and the Middle East. Since the financial crisis we have seen increasing US interest in improving risk management around commercial lending. Driven by a dip in commercial lending volumes and profitability, we see interest coming from institutions keen to gain competitive advantage by managing their commercial lending businesses more efficiently.”

Algorithmics will be showcasing its credit solutions for commercial origination at the 2011 TowerGroup/Corporate Executive Board Annual Financial Services Strategy & Technology conference, entitled ‘Sustainable Innovation in Financial Services’, in Boston on 13^th-15^th April 2011. At the event, Rory McClure will be demonstrating the breadth and depth of Algorithmics’ Credit Lifecycle Management solution for commercial lending at booth number 15.

David Ratnage, Head of Credit Solutions at Algorithmics, concluded: “For many years we have worked in partnership with our clients to develop our credit lifecycle solution, which now spans the full credit lifecycle and often replaces multiple, disparate and silo systems, often extended far beyond their original purpose. Many clients approach us to address one pain point in their commercial lending process, gradually moving to the full system as the business impact of a fully integrated credit solution becomes clear. The innovation theme of this year’s conference is particularly appropriate for us: our clients often see that better processing in their middle office leads to innovation and profitability in their front office.”

To meet Rory McClure at the TowerGroup/Corporate Executive Board Annual Financial Services Strategy & Technology conference, visit booth number 15.

For more information about Algorithmics’ Credit Lifecycle Management, visit: http://www.algorithmics.com/EN/solutions/creditLifecycle.cfm

To download a copy of Algorithmics’ latest paper, “Embrace the opportunity, address the failings: a case for Enterprise Credit Management”, visit: http://www.algorithmics.com/EN/media/pdfs/Algo-WP0111-EnterpriseCredit.pdf

ENDS 

For further information please contact:
Heather Smith, Senior Communications Manager, Algorithmics (UK) Ltd
Direct line +44 (0) 20 7392 5820  Mobile+44 (0) 7515 974223
E-mail Heather.smith@algorithmics.com

Notes to Editors:

Algorithmics is the world's leading provider of 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. http://www.algorithmics.com/

Credit Lifecycle Management offers a consistent and comprehensive solution for the monitoring and control of credit risk throughout the credit lifecycle. Its powerful approach to calculation and consolidation of metrics provides the transparency and control necessary to manage credit processes, enhance managerial decision-making and maximize operational effectiveness across the organization.

Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings’ global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London.

The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of enterprise risk solutions.

The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France.

For additional information, please visit http://www.fitchratings.com/  http://www.algorithmics.com/ and http://www.fimalac.com/

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