IT&e -- Australian-headquartered supplier of the Razor system being employed by the ANZ -- said the software was being used to manage credit limits and exposures across the bank's global operations.
"ANZ is using Razor across [its] treasury and commercial lending books to ensure exposures are managed within the limits mandated by the bank's credit policy," the vendor said.
While the initial implementation has allowed the ANZ to decommission its existing credit risk management application, it is not until the next phase of the re-engineering program that the institution expects to secure "large savings". These will be attained by automating a raft of disparate manual processes.
Joe Seychell, ANZ's head of risk technology said the new platform's distributed architecture enabled dealers to "check limits and availability in real time.
"This enables us to utilise available credit more profitably on a global basis while knowing credit policy is being followed," he said in a statement.
"The ability to manage exposures across both our banking and trading books provides us with a much better understanding of where our credit risks are and enable us to manage these risks more proactively".
ANZ selected Razor after "an extensive evaluation of the major overseas risk management software vendors," IT&e said.
