Hong Leong Finance in risk management tech revamp with Kamakura
Kamakura’s tech will support Hong Leong Finance’s balance sheet management, funds transfer pricing, and liquidity management processes.
Dr Clement Ooi, Kamakura’s EVP and MD of Asia-Pacific operations, says the finance firm “wanted to load the data once, and reconcile the data once”. Kamakura’s platform “fit the bill perfectly”, he states.
“The company now has an integrated, holistic computation engine – the platform upon which it will build its integrated risk framework,” Ooi says. “It will be one of the first to generate both historical and forward-looking views of its balance sheet and gain a transaction-level understanding of profit margins.”
In operation since 1961, Hong Leong Finance is Singapore’s largest finance company, with a network of 28 branches island-wide. It provides a broad range of products and services, including deposit and savings accounts, corporate and consumer loans, government assistance programmes for SMEs, and corporate finance and advisory services.
Kamakura was founded in 1990 and is based in Honolulu, Hawaii. The company claims its flagship offering “is the first enterprise risk management system that deals with credit risk, asset-liability management, market risk, stress testing, liquidity risk, IFRS/IAS compliance, counterparty credit risk, and capital allocation using a single software solution”.