Temenos, the banking software firm has extended its private banking service offering, via its Triple’A Plus portfolio risk system, to ARZ Allgemeines Rechenzentrum, an Austrian IT service provider.

The Triple’A Plus risk management application provides ARZ member banks with detailed market risk analytics for portfolios and strategies.

ARZ centrally hosts applications for around 70 retail and private banks in Austria which can be accessed over the intranet.

”By extending our relationship with Temenos, we have been able to expand our private banking services to respond to the increasing demand from our banks for risk analysis and optimisation functionality, which is now available on a cost-effective Software as a Service SaaS/ASP basis,” said Markus Hammerl, product manager at ARZ.

“In the aftermath of the financial crisis, private banks are facing increased competition, many emerging regulations and increasingly sophisticated and demanding customers. Wealthy investors in particular are demanding more specialised investment advice and risk-adjusted portfolio management including scenario analysis,” Hammerl said.

Triple’A Plus’ portfolio risk module includes industry standard risk statistics such as value at risk as well as tools for stress and back testing, what-if analysis, risk contribution analysis, wealth projection and portfolio optimisation support.