Bank of Moscow has agreed to use risk management software from Fiserv Inc. to make credit decisions.
The Brookfield, Wis., banking technology company said Monday that the commercial bank would use its IPS-Sendero KRM risk management application, which is offered through its IPS-Sendero unit.
The software is expected to help Bank of Moscow better assess credit, market trends, interest rates, and regulatory capital requirements.
Bank of Moscow is Russia's No. 4 banking company, with assets of $16 billion, 98,000 corporate customers, and almost 8 million retail customers. It has 155 branches across the country.
Chuck Rowland, an IPS-Sendaro vice president and the managing director of its international operations, said in a press release that the KRM software allows banks "to make profitable business decisions without relying on a 'fly by the seat of your pants' style of risk management.
